1988 (12) TMI 63

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....ons of law, one pertaining to the assessment years 1972-73 to 1975-76 and the other with regard to the assessment years 1974-75 and 1975-76. The question raised with regard to the former being : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that under rule 1 (viii) of the First Schedule to the Companies (Profits) Surtax Act, 1964, ....

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....he capital employed ?" The answer to the question referred regarding the assessment years 1972-73 to 1975-76 has clearly to be in the affimative, in favour of the assessee and against the Revenue, keeping in view our judgment in Income-tax Reference No. 70 of 1980 (CIT v. Pure Drinks (New Delhi) P. Ltd. [1989] 179 ITR 142 (P & H)), decided today, that is, December 1, 1988. The other question too....