1988 (12) TMI 55

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....e Tribunal One is at the instance of the assessee and the other one is at the instance of the Revenue. The first question referred at the instance of the Revenue is as follows : "Whether, on the facts and in the circumstances of the case and on a correct interpretation of section 2(22)(e) of the Income-tax Act, 1961, the Tribunal is right in holding that the addition of Rs. 5,75,154 made in the....

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....cond instalment, was a capital expenditure and was, therefore, not an allowable deduction ?" So far as the first question is concerned, the law is well settled by the judgment of the Supreme Court in the case of Rameshwarlal Sanwarmal v. CIT [1980] 122 ITR 1 and also by the Division Bench of this court in the case of ITO v. Chandmull Batia [1978] 115 ITR 388. The first question raised at the in....