TaxTMI 
TaxTMI 
2008 (7) TMI 378
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....of the court was delivered by K. A. PUJ J. - The Revenue has filed this tax appeal under section 260A of the Income-tax Act, 1961, for the assessment year 1989-90. The appeal was admitted by this court on May 24, 2001, and the following substantial question of law was formulated by the court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right....
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.... section 115J of the Act ?" 3. Heard Mr. M. R. Bhatt, learned senior standing counsel appearing for the Revenue and Mr. S. N. Soparkar, learned senior advocate with Ms. Vaibhavi Parikh, learned advocate appearing for the assessee. 4. Though the court has directed this tax appeal to be heard along with Tax Appeal No. 390 of 1999, since there are several other issues involved in the said tax appea....
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....e under sections 234B and 234C of the Income-tax Act, 1961, in the case of an assessment of a company on the basis of book profits under section 115J, since the entire exercise of computing income under section 115J can only be done at the end of the financial year, and the provisions of sections 207, 208, 209 and 210 cannot be made applicable until and unless the accounts are audited and the bala....