1991 (8) TMI 47

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....uestion of law: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in directing the Income-tax Officer to include loans and borrowings in the capital employed for grant of relief under section 80J of the Act?" The reference relates to the assessment year 1977-78. For answering the question referred by the Tribunal, it is not necessary to deal with ....