1992 (1) TMI 53

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.... R. C. M , ACTG. C. J. - The Income-tax Appellate Tribunal (" the Tribunal for short) has referred to us, for our opinion, the following question "Whether, on the facts and in the circumstances of the case, the sum of Rs. 25,519 was a proper deduction from the total income?" The assessee is a company deriving income by way of licence fees' from its house property. It also carries on a busin....

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.... 25,519 in computing the assessee's business income. The Appellate Assistant Commissioner having confirmed the view taken by the Incometax Officer, the assessee went in appeal before the Tribunal. The Tribunal, following its earlier decision in the assessee's case for the assessment year 1972-73, held that disallowance made by the Income-tax Officer which was confirmed by the Appellate Assistant C....

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....her be pointed out that, so far as the house property is concerned, the assessee had Separately shown the expenditure incurred by it. We, therefore, fail to see how the expenditure of Rs. 31,519 could have been treated as expenditure incurred both for business and for house property. There was no reason to disbelieve the assessee's statement that the said expenditure of Rs. 31,519 was incurred for....