1985 (5) TMI 2

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....he Income-tax Act, 1961, for the assessment years 1963-64 and 1964-65, the following question of law has been referred to this court : " Whether, on the facts and in the Circumstances of the case, the Tribunal was right in holding that the Income-tax Officer was not justified in including 50% of the managing agency commission from Messrs. Sutlej Cotton Mills Ltd., Pakistan, in the assessment of....

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....nt year were merely directory in character and the approval accorded by the Central Government in the present case subsequent to that date on the application filed by the assessee prior to that date was sufficient compliance with the requirements of the statutory provision ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the assessee was ....