2018 (11) TMI 1556

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....UNSEL FOR GOI (TAXES) For The Respondent : ADVS. SRI. JOSEPH MARKOSE (SR. ) SRI. ABRAHAM JOSEPH MARKOS SRI. HARAN THOMAS GEORGE SRI. ISAAC THOMAS AND SRI. V. ABRAHAM MARKOS ORDER Vinod Chandran, J: The reference arises from the order of the Tribunal for the assessment year 1989-90. The following are the questions of law raised in the reference: "1. Whether on the facts and in the circumsta....

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....duction while computing the book profits? 4. Whether on the facts and in the circumstances of the case and in law:- i) should not the dividend income amounting to Rs. 1,97,89,440/- be excluded in computing the profits of eligible business under sub-sec.(3) of sec.32AB of the I.T.Act? ii) the entire business of the assessee company including earning dividend income is eligible business or ....

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....irmed by the Hon'ble Supreme Court by the decision reported in Apollo Tyres Ltd. v. C.I.T. [(2002) 255 ITR 273 (SC)]. Question No.2 is covered in favour of the assessee by the decision of the Hon'ble Supreme Court in C.I.T. v. Bhari Information Tech. Sys.P.Ltd. [(2012) 340 ITR 593 (SC)]. What survives is only consideration of question No.3. 3. The assessee in the previous assessment year ....