1997 (9) TMI 59

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..... MATHUR C. J.---This is a reference under section 256(1) of the Income-tax Act, 1961, at the instance of the assessee and the following question of law has been referred by the Tribunal for answer of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in disallowing the expenditure of Rs. 2,90,659 under section 37(4) of the Inco....

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....appeal, the Tribunal also confirmed the disallowance. The assessee aggrieved by the order of the Tribunal, approached the Tribunal for making reference before this court and, accordingly, the Tribunal referred the aforesaid question of law for opinion of this court. Without going into the merits of the case, suffice it to say that a complete answer is provided under section 37(4) of the Act ....