1980 (12) TMI 61

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.... 366/Ahd/1979. 2. The Deptl. Rep. has urged that whereas the Tribunal had held that the Commr. (A) was justified in directing the ITO to recompute the "Capital employed" by the assessee without taking into account its loans, liabilities etc., the Finance (No. 2) Act, 1980 had since introduced a new sub-s. (1A) in s. 80J of the IT Act with retrospective effect from 1st April, 1972 which specifica....