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CASE REVIEW The decision of the Madras High Court in CIT v. T. Stanes and Co. Ltd. [1976] 105 ITR 251 - Affirmed. Note: The case was decided in favour of revenue. T.A. Ramachandran and (Mrs. Janaki Ramachandran for the Appellant. B.B. Ahuja and Ms. A. Subhashini for the Respondent. ORDER Civil Appeal Nos. 581-586 of 1976: The following question was referred to the High Court by the Income-tax Appellate Tribunal under section 66(1) of the Indian Income-tax Act, 1922 (see CIT v. T. Stanes and Co. Ltd. [1976] 105 ITR 251, 257): "Whether, on the facts and in the circumstances of the case, the assessee would be entitled to claim as deductions the sums of Rs. 13,789, Rs. 16,587, Rs. 31,454, Rs. 44,622, Rs. 12,907 and Rs. 15,570 respectively, for the assessment years 1959-60 to 1964-65, or any part thereof under section 10(2)(xv) or under the corresponding provisions of section 37 of the Income-tax Act of 1961?" Keeping in view of the peculiar facts and circumstances of this case, the High Court answered the question partly in favour of the Revenue in the following terms (see p. 261): "We, accordingly, hold that (1) in respect of the assessment years 1959-60 and…

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