1. In this application u/s 256(2) of the Income-tax Act, 1961, the petitioner prays for a direction to refer the following question for opinion of this court:—
“1. Whether on the facts and in the circumstances of the case Rs. 2 Crores paid to Appejay Medical Research Welfare Limited and Rs. 2 Crores paid to Appejay Educational Association Limited are allowable expenses under the Income Tax Act, 1961?”
2. Heard Dr. A.K Saraf, learned counsel for the assessee and Mr. G.K Joshi, learned Senior Standing Counsel for the Revenue.
3. Learned counsel for the parties submit that this case is covered by a decision of this court in the case of Assam Frontier Tea Co. Ltd. v. Union of India reported in 190 ITR 361 (Gau).
4. Dr. Saraf also informs us that a S.L.P is pending before the Apex Court in the matter.
5. We have gone through the order passed by the Tribunal on 24.10.94
6. We do not find any infirmity in the said order. We are not inclined to give any direction to refer the question.
7. Accordingly the petition is dismissed. In the facts and circumstances of the case we make no order as to costs.