Nature of Hire charges for hoarding space – Is it for ‘use of premises for purpose of business’ or for publicity or advertisement or sales promotion

HIGH COURT OF ANDHRA PRADESH Bakelite Hylam Ltd. versus Commissioner of Income-tax V.V.S. RAO AND B.N. RAO NALLA, JJ. Referred Case. No. 152 of 1996 NOVEMBER  28, 2011 JUDGMENT V.V.S. Rao, J. This is a reference under section 256(1) of the Income-tax Act, 1961 (“the Act”). The following two questions have been referred to the opinion of this court at the instance of the assessee with reference to the assessment years 1985-86 and 1986-87. Assessment year 1985-86 Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in...