1. The following two questions were raised before the Tribunal:
“1. Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the amount of Rs 2,50,000 could not be said to have been applied for charitable or religious purposes in India within the meaning of Section 11(1) of the Income Tax Act, 1961, in the accounting period relevant to Assessment Year 1965-66?
2. If the answer to Question 1 is in the negative whether the assessee was entitled to any further exemption from tax and for any portion of its income for Assessment Year 1965-66?”
The amount of Rs 2,50,500 was set apart as provision in the accounts of the assessee. The finding of fact is that the amount was not actually applied for charitable or religious purposes. In that view of the matter, the question was answered against the assessee.
2. We see no reason to interfere with this order of the High Court. The appeal is dismissed. There will be no order as to costs.