2000 (5) TMI 11

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.... Income-tax Appellate Tribunal to state the case and refer the following question, stated to be one of law, arising out of I. T. A. No. 9623/D of 1990, for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in deleting the disallowance of Rs. 11,68,964 despite the fact that expenses incurred in raising equity ....