1984 (8) TMI 32

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....n income was computed in accordance with the provisions contained in rule 10(ii). For this purpose, the world income of business of the assessee was required to be computed. At that stage, the ITO applied the limitation to head office expenses contained in s. 44C which was inserted by the Finance Act, 1976, with effect from June 1, 1976. When this limitation was applied, the world profits stood en....