1994 (4) TMI 395

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..... the IT Act, 1961 which is before us raises questions both at the instance of the assessee as well as at the instance of the Revenue : At the instance of the Revenue: 1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that, for the purpose of computing the relief under s. 80J of the IT Act, 1961, the gross value of the assets without deduc .....

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..... onnection with the computation of capital employed for the purpose of deduction under s. 80J of the Act ? 2. The questions have been numbered by us consecutively for the sake of convenience. 2.1 In view of the decision of the Supreme Court in the case of Lohia Machines Ltd. vs. Union of India (1985) 44 CTR (SC) 328: (1985) 152 ITR 308(SC), question No. 1 is answered in the negative and in .....

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