COMMISSIONER OF INCOME TAX Vs. CITY OF AHMEDABAD SPG AND MFG COMPANY LIMITED

JUDGEMENT

(1.) THE Tribunal, Ahmedabad Bench 'C', as per the direction of this Court in IT Application No. 85 of 1975, decided on 17th November, 1975, has referred three questions of law for our opinion at the instance of the CIT, Gujarat I. The said three questions are as under :

(2.) IN order to appreciate the nature of the controversy between the parties in the present proceedings, it is necessary to have a look at a few relevant facts.

(3.) IT is necessary to note at this stage the details of the expenses of Rs. 40,323 which the assessee had claimed by way of permissible deductions under S. 37 of the Act :