1987 (11) TMI 9

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....ner of Income-tax, Karnataka, has presented this petition under section 256(2) of the Income-tax Act, 1961, praying for the issue of a direction to the Income-tax Appellate Tribunal, Bangalore Bench, to draw up a statement of case and refer the following five questions of law for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal i....

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....s is allowable as revenue expenditure ? 4. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in law in upholding the order of the Commissioner of Income-tax (Appeals) who deleted the addition of Rs. 39,02,450 made by the Income-tax Officer in respect of revaluation of closing stock of iron ore ? 5. Whether, on the facts and in the circumstances o....