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TMI Blog2019 (8) TMI 809X X X X Extracts X X X X X X X X Extracts X X X X ..... ajit Roychoudhury, Advocate And Mr. Radha Mohan Roy, Advocate ORDER The Court: The order of the tribunal made on 27th February 2019 is challenged principally on the ground of perversity in arriving at the findings in relation to the issues mentioned in paragraph 10 of the stay petition. On that basis questions of law have been formulated in the said paragraph as hereunder: (i) Whether any di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 crore made by the appellant in accordance with the provisions of Non-banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 was a legitimate business deduction? (iv) Whether the transfer of Rs. 22 crore to special reserve in terms of section 45-IC of the Reserve Bank of India Act 1934 was to be excluded from total income under the norma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct over the provisions of Parts II and III of Schedule VI to the Companies Act 1956 and the purported findings of the Tribunal not adjudicating and/or rejecting the appellant's said claim are arbitrary, unreasonable and perverse? (vii) Whether capital profit/loss on account of sale of investments, transfer of business and sale of assets was required to be considered in computing the book profit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or advocate for the appellant. We are of the view that interest of justice would be subserved if the matter is remanded back to the tribunal to reconsider the above issues afresh upon hearing the parties and by passing a reasoned order within six months of communication of this order. Only that part of the order of the tribunal dated 27th February 2019 dealing with the above questions is set asi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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