1990 (2) TMI 318

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....sp; J. P. Khaitan   and  A. K. De , for the Assessee JUDGMENT Bhagabati Prasad Banerjee, J.-The Tribunal has referred the following questions of law under s. 256(1) of the IT Act, 1961 to this Court : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the provisions for gratuity relating to earlier year written back to th....

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....rovision for payment of leave salary for leaves accrued to the employees in the earlier year and, therefore, directing the ITO to verify the claim of the assessees in the matter of privilege leave in the light of the Leave Rules ? (4) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the loss arising out of exchange fluctuation arising out of....

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....assessee has conceded to the question of law referred in this connection relating to taxability of the gratuity provisions the same should be decided in favour of the Revenue. Accordingly question No. 1 is answered in the affirmative (sic) and in favour of the Revenue. Let the said letter dt. 31st March, 1987 with annexures handed over to Court be kept on record treating the same as a part o....

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....e and in favour of the Revenue. 6. So far as question No. 4 is concerned this point is now concluded by the decision in the assessee's own case in the earlier years reported in (1986) 157 ITR 158 (Cal) (supra) and in view of the said decision the question referred is answered in the negative and in favour of the Revenue. 7. So far as question No. 5 is concerned this question is now concl....