1989 (7) TMI 82

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.... the application under section 256(1), sought reference from the Tribunal on two questions of law which were as follows : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that deduction of Rs. 35,79,866 on account of discount on bonds was admissible business expenditure in this year ? 2. Whether, on the facts and in the circumstances of the....