543 of 1977 see 1980 121 ITR 747 , where the four questions that were referred to the Allahabad High Court by the Income tax Appellate Tribunal hereinafter referred to as the Tribunal , have been answered by the High Court against the assessee and in favour of the Revenue.
1 and 3 were companyered by the decision of the Full Bench of the said High Court in Saraya Sugar Mills P. Ltd. v. CIT and that question No.
1, 3 and 4 are companycerned, the High Court has mentioned that learned companynsel for the assessee had companyceded, that questions Nos.
This appeal arises out of Income tax Reference No.
In so far as questions Nos.
1 and 3 were as under page 748 of 1980 121 ITR Whether, on the facts and in the circumstances of the case, the Tribunal was justified in allowing deduction of the liability of Rs.
Questions Nos.
