AHMEDABAD MANUFACTURING AND CALICO PRINTING CO LIMITED AHMEDABAD Vs. COMMISSIONER OF EXCESS PROFITS TAX BOMBAY NORTH KUTCH AND SAURASHTRA BARODA

JUDGEMENT

(1.) THE following Judgment of the court was delivered by :

(2.) THIS appeal by special leave of this court, has been filed against the judgment and order of the Bombay High court dated 27/08/1954, by the Ahmedabad Manufacturing and Calico Printing Co.' Ltd.. Ahmedabad, hereinafter called the assessee Company. By that judgment, the High court of Bombay answered the first of the two following questions referred to it by the Income-tax Appellate tribunal, Bombay, in the negative, and declined to answer the second question, inasmuch as. in its opinion, that question did not arise in view of 'the answer to the first question :

(3.) IN respect of the Provident Fund. it may be stated that the Provident Fund Regulations were framed with effect from 30/06/1935, and were recognised by the Commissioner of INcome-tax, as required by the Rules regarding Recognised Provident Funds framed by the governor-General in council on 15/03/1930. The amount payable by the Company was determined in accordance with Regulation 12(b), which reads as follows: