1992 (11) TMI 8

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..... ct, 1922, as applied to the Business Profits Tax Act, the Income-tax Appellate Tribunal has referred the following question at the instance of the Revenue : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in reducing the business profits of the assessee-company for the period from January 1, 1948, to December 31, 1948, by a sum of Rs. 76,92,5 .....

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..... in arriving at the excess profits, the Income-tax Officer had started with the business profits of Rs. 1,28,46,149 computed under the Indian Income-tax Act, 1922. In the income-tax proceedings the assessee had contested the extra profit addition of Rs. 76,92,566. The Appellate Assistant Commissioner had upheld the said addition. However, in further appeal to the Tribunal, the Tribunal had delet .....

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