1989 (2) TMI 55

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..... Act, 1964. The questions of law referred for the opinion of this court in this behalf being : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal erred in law in holding that the following amounts should be taken into consideration in the computation of the capital employed for the purpose of statutory deduction under the Second Schedule to the Companies (P .....

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..... the Revenue keeping in view the earlier judgment of this court in Income-tax Reference No. 66 of 1980 (CIT v. Saraswati Industrial Syndicate Ltd. (No. 4) [1989] 178 ITR 479), decided on November 25, 1988, where similar questions were raised concerning the same assessee. This reference is answered accordingly. There will, however, be no order as to costs. - - TaxTMI - TMITax - Income .....

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