- (1.) The Income Tax Appellate Tribunal, Allahabad has referred the following questions of law under Section 256(2) of the Income Tax 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 justified in confirming the directions given by the Appellate Assistant Commissioner to exclude a sum of Rs. 59,500/- which was admittedly not spent or utilised for charitable purpose covered by the objects of the Trust
(2.) The reference relates to the Assessment Year 1972-73.
(3.) Briefly stated, the facts giving rise to the present reference are as follow:;