TaxTMI 
TaxTMI 
1996 (1) TMI 16
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...., 1961, with respect to the assessment year 1984-85 of the assessee, has prayed that the Tribunal, Jaipur Bench, Jaipur, may be directed to state the case and refer the following two questions of law for the opinion of the High Court : "(1) Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amount of Central Government subsidy is not deductib....
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.... High Court in the case of CIT v. Ambica Electrolytic Capacitors Pvt. Ltd. [1991] 191 ITR 494 which was decided in favour of the assessee and hence this question does not require further reference to the High Court. So far as question No. (2) is concerned, the Tribunal opined that how much addition has to be sustained on estimated basis, is a question of fact and requires no reference to the High ....
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....e Commissioner of Income-tax (Appeals), jodhpur, considering the nine facts mentioned in the order and the facts and the circumstances of the case came to the conclusion that in the facts and circumstances of the case it would be fair trading to make an addition of Rs. 1,00,000 only and delete the balance of Rs. 19,55,037 as made by the assessing authority. The Commissioner of Income-tax (Appeals)....