1979 (11) TMI 5

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the rectification of mistakes involved an arguable and debatable question of law and, therefore, the revision of assessment under section 13 of the Companies (Profits) Surtax Act, 1964, was not valid in law ? (2) Whether the amounts set apart as, (i) machinery replacement reserve ; (ii) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Addl. CIT v. Adoni Spinning and Weaving Co. Ltd. [1977] 108 ITR 236 (Mad). As the matter is already concluded by the decisions of this court, we do not think that any useful purpose will be served by calling for reference of the question on the said reserves. As regards the contingency reserve, the learned counsel contended that it is not covered by any decision of this court. We consider that con .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X