Court : Chennai
Decided on : Nov-09-1982
Reported in : (1983)35CTR(Mad)150; 140ITR705(Mad)
..... deduction in respect of a sum of rs. 25,920 being the aggregate of stamp duty, registration charges, lawyers' fees, and other miscellaneous expenses, in connection with the issue of debentures secured on its fixed assets. this claim for deduction of rs. 25,920, however, was disallowed. there were other disallowances too in the assessment. the assessment was carried in ..... arisen in the present reference. 7. the assessee is a newspaper publisher having in its labour force as well as staff a number of employees. year after year, the company was making appropriate provision in the balance-sheet towards its possible gratuity liability for its workmen. since gratuity was payable only on retirement or on certain other eventualities the assessee ..... interference on questions of law, the tribunal is constituted the final authority on facts and the penultimate authority on law touching the assessment and other proceedings under the i.t. act. the primary purpose of the stature is to levy and collect the income-tax. this is based on the cardinal principle, which has been incorporated as a veritable constitutional ..... the tribunal has jurisdiction to try and determine important questions, whether on fact or on law, which relates to the assessment of the assessee and there was nothing in this act which restricts the tribunal to determining those questions which have been raised before the departmental authorities. it is in this particular passage that the supreme court have rendered a comprehensive .....Tag this Judgment!