- (1.) The aforesaid appeals have been heard analogously and are being disposed of by a common judgement and order since they relate to similar questions of law and facts.
(2.) I.T.A. No. 98 of 2003 was admitted in respect of assessment year 1991-92 on the following questions of law : I. Whether on the facts and in the circumstances of the case the tribunal misdirected itself in law and it adopted a wholly erroneous approach in confirming the disallowance of overseas travel (Rs. 40,443/-) and educational expenditure (Rs. 3,37,084-/) in the aggregate sum of Rs. 3,77,527/- incurred by the appellant/assessee company herein in respect of his trainee employee, Sri Saumya Meattle and whether its findings on the aforesaid issue are vitiated in law having been recorded by it without any material and/or in disregard of the undisputed material facts including the relevant and vital evidences on record and whether such findings are wholly unreasonable and/or otherwise perverse. II. Whether on the facts and in the circumstances of the case the tribunal misdirected itself in law and it adopted a wholly erroneous approach in confirming the disallowances of Rs. 1,66,660/- representing commission paid by the appellant/assessee company to M/s. Telecom Ancillaries Pvt. Ltd. and whether its findings on the aforesaid issue are vitiated in law having been recorded by it without any material and/or in disregard of the undisputed material facts including the relevant and vital evidences on record and whether such findings are wholly unreasonable and/or otherwise perverse. III. Whether on the facts and in the circumstances of the case the and on a correct interpretation of Section 73 of the Income Tax Act, 1961 the tribunal misdirected itself in law and it adopted a wholly erroneous approach in confirming the disallowances of short term capital loss in the aggregate sum of Rs. 4,17,550/- suffered by the appellant/assessee company in purchase and sale of shares of M/s. Reliance Industries Ltd. and M/s. JCT Ltd. the two quoted Public Limited Companies and whether its findings on the aforesaid issues are vitiated in law having been recorded by it without any material and/or in disregard of the undisputed material facts including the relevant and vital evidences on record and whether such findings are wholly unreasonable and/or otherwise perverse.
(3.) I.T.A. No. 99 of 2003 was admitted in respect of assessment year 1993-94 on a question of law similar to question no. II in I.T.A. No. 98 of 2003 as follows :;