1989 (2) TMI 38

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....law have been referred to this court by the Tribunal under section 256(1) of the Income-tax Act, 1961 ("the Act") : "1. Whether, on the facts and in the circumstances of the case and on a proper construction of the relevant deed of lease, the Tribunal was right in holding that the income of the assessee from lease of its jute mill was assessable under section 28 of the Income-tax Act, 1961, and....

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....paid to the ex-employee should be allowed as deduction in the computation of the assessee's income. The Appellate Assistant Commissioner, in his order, directed the income-tax Officer to re-examine the claim of Rs. 15,000 and if the date on which the liability was ascertained fell within the accounting year ended on April 14, 1963, the Income-tax Officer was directed to allow the expenses in the a....