- (1.) THE Tribunal, Allahabad, has referred the following two questions of law under s. 256(1) of the IT Act, 1961 (hereinafter referred to as 'the Act'), for opinion to this Court : "1. Whether, on the facts and circumstances of the case, the Tribunal was justified to allow the deduction after the close of the previous year which was not permissible in view of the provisions as laid down in s. 43B of the IT Act ?
(2.) WHETHER , on the facts and in the circumstances of the case, the Tribunal was justified in holding that the provisions of s. 43B of the IT Act, 1961 did not apply to the amount of sales -tax realised by the assessee and paid to the Department within the period permissible under the provision of the Sales -tax Act - 2. The present reference relates to the asst. yr. 1988 -89.
(3.) DURING the assessment year in question, the respondent had realised a sum of Rs. 88,776.81 towards the sales -tax invoking the provisions of s. 43B of the Act. In appeal, the CIT(A) has deleted the addition, which order has been upheld by the Tribunal. We have heard Sri R.K. Upadhyaya, learned standing counsel for the Revenue. Sri S.K. Gupta has filed his appearance on behalf of the respondent assessee.;