Law:

Section:

Section 256 read with sections 36, 39 and 80VV of the Income-tax Act, 1961 - High Court - Reference to - Tribunal recorded factual finding that amount spent was not spent in connection with proceedings before income tax authorities and hence was not covered by section 80VV - Whether above finding was finding of fact and no referable question of law arose therefrom - Held, yes - Whether where reference had been refused in respect of certain questions in earlier years, identical questions could not be referred in relevant assessment year - Held, yes - Whether allowance of interest on borrowed funds where such money had been utilised in granting interest free advances raised question of law which would be stated by Tribunal - Held, yes - Whether Tribunal was justified in allowing deduction of expenditure incurred in bringing dead body of chairman from Bombay to Modinagar and no question of law arose therefrom - Held, yes FACTS The revenue sought direction of this court to refer the following eight questions : 1. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the deletion by the Commissioner (Appeals) of the disallowance of Rs. 2,43,780 relating to interest claimed by the assessee on borrowed money utilised in granting interest-free advance? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the order of the Commissioner (Appeals) in allowing the deduction of Rs. 4,93,148 being disputed demand of excise duty on single filament yarn used in the manufacture of double ply crimped? 3. Whether on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the order of the Commissioner (Appeals) allowing the deduction of Rs. 25,21,766 on account of excise duty liability on crimped strech texturised yarn? 4. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the order of the Commissioner Appeals allowing relief of Rs. 1,43,359 on the ground that the receipts on account of charity collections do not constitute trading receipts? 5. Whether, on the facts and in the…

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