1983 (12) TMI 45

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Companies (Profits) Surtax Act, 1964. The question of law that has been referred is as follows: "Whether, on the facts and in law in the circumstances of the case, and on a proper interpretation of Explanation 1 of rule 2 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, the Tribunal was right in holding that the said sum of Rs. 3,50,000 being the adjustment made in respect of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e assessee's own case on November 7, 1978, for the previous assessment year, the question is answered in the affirmative and against the assessee. Mr. Bajoria, appearing on behalf of the assessee, has contended that there is another decision of this court in the case of CIT v. Indian Leaf Tobacco Development Co. Ltd. [1981] 132 ITR 831, in which a seemingly contradictory view has been taken. In....