1989 (9) TMI 21

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.... the instance of the assessee. Two questions are raised which read thus : "(i) Whether, on the facts and in the circumstances of the case and having regard to the nature of the business carried on by the assessee, the entertainment expenditure of Rs. 13,200 was liable to be disallowed for 1961-62 assessment year under section 10(2)(xv) of the Indian Income-tax Act, 1922, and similar expenditure....

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....states that it cannot be prepared because the assessee has no further and better particulars which would enable its preparation. In the absence of such particulars, we are unable and decline to answer the first question. The second question relates, having regard to the statement of the case, to expenditure incurred on exploring the feasibility of a new line of business. The assessee's existing....