https://www.taxtmi.com/caselaws?id=39504 The court determined that the capital employed was correctly assessed at Rs. 21,23,545, and rejected the additional inclusion of Rs. 1,45,110 under Rule 19(5) of the Income-tax Rules, 1962. The Income-tax Officer's computation, which factored in current assets and liabilities, was deemed sufficient as it already encompassed the profits for the year. The court ruled in favor of the revenue, concluding that no further adjustment was warranted, with no costs ordered. en-us Wed, 31 Jul 1974 00:00:00 +0530 Fri, 16 Apr 2010 18:00:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39504 The court determined that the capital employed was correctly assessed at Rs. 21,23,545, and rejected the additional inclusion of Rs. 1,45,110 under Rule 19(5) of the Income-tax Rules, 1962. The Income-tax Officer's computation, which factored in current assets and liabilities, was deemed sufficient as it already encompassed the profits for the year. The court ruled in favor of the revenue, concluding that no further adjustment was warranted, with no costs ordered. Case-Laws Income Tax Wed, 31 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39504