1987 (10) TMI 35

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....nder section 256(2) of the Income-tax Act, 1961, by the Revenue for asking the Tribunal to make statement of the case on the following questions : " (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in deleting an addition of Rs. 41,500 in respect of charity included in the purchase price of cotton by payment of Rs. 2 per bale o....

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....2 are that the Income-tax Officer estimated the interest on notional basis amounting to Rs. 1,50,608 at the rate of 10% on the debit balances outstanding in the account of three dealers of the assessee-company. Detailed facts in this regard have been stated by the Commissioner of Income-tax (Appeals) in his order dated April 4, 1977, in para 70. The view of the Income-tax Officer was that the asse....