TMI Blog1976 (4) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... The first out of these two questions is directly covered by the decision of this High Court in CIT v. Elecon Engineering Co. Ltd., (Income-tax Reference No. 19 of 1971, decided on September 11/12, 1973-[1976] 104 ITR 510). In view of that decision, question No. 1 must be answered in the affirmative, that is, in favour of the assessee and against the Revenue. As regards question No. 2, the main q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time before the Tribunal. Under these circumstances, following CIT v. Steel Cast Corporation (Income-tax Reference No. 72 of 1974, decided by this court on December 17, 1975 [1977] 107 ITR 683), it must be held that the Tribunal had the jurisdiction to allow the assessee to raise this particular point regarding computation for the purpose of s. 84. This question must, therefore, be answered in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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