JUDGMENT
Arijit Pasayat, C.J.
Heard.
Following question has been referred for opinion of this court at the instance of the revenue under section 256(1) of the Income Tax Act, 1961 (hereinafter referred to as the Act), by the Tribunal, Delhi Bench B :
“Whether, on the facts and in the circumstances of the case, the view taken by the Tribunal is right that in computing the capital for the purpose of surtax assessment, under rule 4 of the Second Schedule to the Surtax Act, the capital is not to be reduced by the income, profits or gains of a company exempt under Chapter VI-A of the Income Tax Act, 1961 ?”
Dispute relates to assessment year 1970-71.
2. We need not deal with the factual aspects in detail in view of the fact that in the assessed’s own case in IT Reference No. 329 of 1979
The reference application is disposed of.