1985 (12) TMI 5

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....r section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue for decision of the following question of law : " (1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in its conclusion that the Madhya Pradesh State Electricity Board, the assessee herein, is a company, being licensee within the meaning of the Electricity (Supply) Act, ....

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....quently revised on March 3, 1975, showing the loss at Rs. 3,61,03,429. The return was again revised on March 10, 1975, claiming that the loss was Rs. 3,68,12,429. A revised computation was again filed on March 15, 1977, showing the loss at Rs. 35,21,02,268. During the assessment proceedings, the assessee claimed development rebate at Rs. 4,28,58,585. The Income-tax Officer rejected this plea of th....