1999 (9) TMI 962

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....61, hereinafter referred to (as the Act of 1961), which pertain to the asst. yr. 1994-95, have been filed at the instance of the Revenue seeking mandamus to the Tribunal for drawing up statement of case and to refer the following common question for the opinion of this Court: "Whether on the facts and in the circumstances of the case, the Tribunal was correct in holding that in the case of ....

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....nsel for the Revenue Mr. Bhandawat that the Tribunal has erred in law in not appreciating the fact that the proviso to Section 44AD(2), which allows deduction of salary and interest paid to its partners, refers to computation of income made under Section 44AD(1) whereas the assessment was finalised under Section 44AD(5). The proviso has no application to the assessment completed under Section 44AD....