1998 (8) TMI 57

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.... V. MARUTHI J.---At the instance of the Revenue, the Tribunal referred the following two questions for the opinion of this court. (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in holding that the assessee is entitled for deduction under section 37 of the Income-tax Act, 1961, in respect of the sum of Rs. 91,000 being interest p....

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.... by it. The Income-tax Officer rejected both the claims made by the assessee. The order of the Income-tax Officer was confirmed by the Commissioner of Income-tax (Appeals). On a further appeal to the Tribunal, the Tribunal following its decision for the earlier years in the case of the same assessee held that the claims would have to be examined de novo by the Income-tax Officer. Holding as such, ....

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.... raising of the said other crops was indivisibly and inseparably connected with the tobacco raising operations of the assessee. Only the interest on the amount spent upon the land for raising tobacco was deductible under section 37 and not the whole amount of Rs. 1,04,155 ; (ii) that the Income-tax Officer to whom the matter had already been remanded by the Tribunal should decide whether the am....