1997 (2) TMI 139

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....i, learned Counsel for the respondents. 2.The petitioners contends that the impugned order is bad as it has not been passed taking into consideration profit and loss account of the company and wrongfully showing a profit although profit and loss account shows actually a net loss of substantial amount. It is contended on behalf of the petitioners that such wrong reading of the profit and loss ac....

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....ressed apprehension that total exemption will cause serious prejudice to the interest of the respondents as the decision of the appeal will be then delayed by the petitioner and the respondents will be suffering total loss as assets will be disposed of. 4.After considering the respective contentions of the parties, I find that the impugned order apparently proceeded on a mistake in reading of t....