- (1.) THE Tribunal, New Delhi, has referred the following question of law under s. 256(1) of the IT Act, 1961 (hereinafter referred to as "the Act") for opinion to this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the addition of Rs. of s. 43B of the IT Act - The present reference relates to the asst. yr. 1986 -87.
(2.) WE have heard Sri A.N. Mahajan, learned standing counsel for the Revenue.
(3.) NOBODY has appeared on behalf of the respondent -assessee. income of the respondent -assessee by invoking s. 43B of the Act. The Tribunal has, however, deleted the addition. In view of the decision of the apex Court in the case of Allied Motors (P) Ltd. vs. CIT (1997) 139 CTR (SC) 364 : (1997) 224 ITR 677 (SC), the Tribunal has rightly deleted the addition. We, accordingly, answer the question referred to us in the affirmative, i.e., in favour of the assessee and against the Revenue. However, there shall be no order as to costs.;