In calculation of allowable remuneration Profit means profit as per P/L a/c

HIGH COURT AT CALCUTTA I.T.A. No.201 of 2003 Md. Serajuddin & Brothers Vs. Commissioner of Income Tax Judgment on: 17.5.2012. K.J. Sengupta, J.:- The instant appeal has been preferred against the judgment and order dated 28th February, 2003 of the learned Tribunal for the assessment years 1995-96 to 1998-99. The above appeal was admitted by an order of this Court dated 17th November, 2003 on the following substantial questions of law:- (i) Whether the Tribunal was justified in law in dismissing the appellant’s appeal for the assessment years 1995-96 to 1998-99 without af...