The assessment years involved in this case are 1971 72 and 1972 73 for which the relevant previous years were calendar years 1970 and 1971 respectively.
SEN,J. These are appeals from a judgment of the Andhra Pradesh High Court which answered the following question of law in the affirmative and against the assessee Whether on the facts and in the circumstances of the case, the sums of Rs.4,12,780/ and Rs.5,50,000/ are liable to be excluded under Rule 1 xi a of the Surtax Rules in companyputing the chargeable profits in Surtax assessments for the assessment years 1971 72 and 1972 73?
