- (1.) Heard counsel for both the parties.
(2.) Under Section 256(2) of the Income-tax Act, 1961, the Tribunal has stated the following question : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that rasoi expenses were not entertainment expenses and hence were allowable deduction under Section 37(2B) of the Income-tax Act, 1961 ?"
(3.) In view of the Full Bench decision of this court in Phool Chand Gajanand v. CIT [1989] 177 ITR 265, this question has to be answered in the negative, that is, against the assessee and in favour of the Revenue. Answered accordingly.;