1984 (12) TMI 14

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion 256 (1) of the Income-tax Act, 1961. The question of law referred is: "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the amount of Rs. 5,582 debited as a provision for the use of the right of Mrs. Margon Pinto, the ex-partner, was not an allowable deduction ?" The assessee is a firm. In the profit and loss account of the said firm, a su....