1979 (11) TMI 5

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....e-tax has applied for reference of the following two questions: " (1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the rectification of mistakes involved an arguable and debatable question of law and, therefore, the revision of assessment under section 13 of the Companies (Profits) Surtax Act, 1964, was not valid in law ? (2) Wh....

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....16 ITR 889 (Mad) and the dividend equalisation reserve was dealt with in Addl. CIT v. Adoni Spinning and Weaving Co. Ltd. [1977] 108 ITR 236 (Mad). As the matter is already concluded by the decisions of this court, we do not think that any useful purpose will be served by calling for reference of the question on the said reserves. As regards the contingency reserve, the learned counsel contended t....