1981 (2) TMI 68

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ANGANATHAN J.-This is a reference at the instance of the Commissioner of Income-tax in the matter of income-tax assessment for the assessment year 1960-61. The assessee had spent a sum of Rs. 32,431 towards the remodelling of furniture in the various retail depots of the company and claimed it as a deductible expense. The ITO and the AAC were of the opinion that the expenditure was capital in natu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in the case of the same assessee which was numbered as I.T.C. No. 8 of 1974. The Tribunal had declined to state a case on the ground that there had been no dispute before it that the incurring of the expenditure was not for the purpose of business. In the above circumstances, this court also rejected the application under s. 256(2). In the year under appeal also there is no finding that the ex....