1993 (9) TMI 21

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....ibunal has made only one reference, they are numbered as four references as they pertain to four different assessment years and really arise out of four orders passed in four separate appeals before the Tribunal. Question No. 1 referred to this court is common in all the references and question No. 2 pertains to the assessment years 1975-76 and 1976-77. They are as under : " (1) Whether, on the....

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.... by a decision of this court in CIT v. Gujarat State Finance Corporation [1992] 196 ITR 822. In that case, it has been held as under (headnote) : "The opening part of section 2 of the Income-tax Act, 1961, which contains various definitions clearly provides that, unless the context otherwise requires, different words and expressions will have the meanings given in that section. It is not possib....

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...., 1985." Following that decision, we answer the question in the affirmative as deduction under section 36(1)(viii) has to be worked out by applying the proper percentage to the total income computed before deductions under section 36(1)(viii) and Chapter VI-A. As regards question No. 2, what is required to be emphasised is that the controversy between the Revenue and the assessee was whether....