COMMISSIONER OF INCOME TAX Vs. ORISSA CEMENT LTD

JUDGEMENT

(1.) AT the instance of the Revenue, following questions have been referred by the Tribunal, Delhi Bench 'C', under s. 256(1) of the IT Act, 1961 ('the Act') for opinion of this Court :

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the Reserve for doubtful debts should be included in the capital base for the purpose of calculating net chargeable profit under the Surtax Act, 1964 ?