JAY ENGINEERING WORKS LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that for disallowance under Section 40A (5) of the I.T. Act, 1961: -

(2.) Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the following expenses do not qualify for weighted deduction under Section 35B of of the Income Tax Act, 1961: <FRM>JUDGEMENT_1343_ILRDLH16_2007Html1.htm</FRM>

(3.) "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the sum of Rs.1,16,240/- written back by the assessee to the credit of its profit and loss account during the accounting period under consideration constituted income of the assessee company under Section 41(1) of the I.T. Act, 1961? 2. In so far as the first and second question are concerned, learned counsel for the Assessee does not press these questions and accordingly the reference is returned unanswered in respect of these two questions. 3. In so far as the third question is concerned, we find from a reading of the paper book that the Assessee had written back in its accounts unclaimed balances under the following heads -"