1992 (6) TMI 18

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.... - At the instance of the Revenue, the Income-tax Appellate Tribunal has referred the following question of law for the decision of this court : " Whether, on the facts and in the circumstances of the case, the 'dilution expenses' are an admissible deduction?" The respondent/assessee is a sterling company having business in tea and rubber plantations. It had to comply with the provisions of ....

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....lth Trust Ltd., Calicut, held that the expenditure would be revenue in nature. It is thereafter at the instance of the Revenue that the question of law, formulated hereinabove, has been referred for the decision of this court. We heard counsel. The decision relied on by the Appellate Tribunal to hold in favour of the assessee came up before this court in CIT v. Commonwealth Trust Ltd. [1979] 12....