Date of Order : 03.10.2001
                   Present:Mr.Satyen Sethi for the appellant.                                                                
                           Mr.R.D.Jolly with Mrs. Prem Lata Bansal                                                           
                           for the respondent.                                                                               
                                                                                                                             
CASE NUMBER : ITA No.103/2001

                         Admit.                                                                                              
                         The   following  question  of   law  shall   be                                                     
                adjudicated:                                                                                                 
                                                                                                                             
                         "Whether on the facts and circumstances of                                                          
                         the  case and on a true interpretation  of                                                          
                         section 44 of the Act, read with Rule 5 of                                                          
                         the  First  Schedule  to   the  Act,   the                                                          
                         Tribunal  was  right in law in  confirming                                                          
                         the adjustments/representing provision for                                                          
                         taxation and tax deducted at source to the                                                          
                         balance of profits disclosed by the annual                                                          
                         accounts  prepared in accordance with  the                                                          
                         Insurance Act?"                                                                                     
                                                                                                                             
                         The  appellant  shall file within three  months                                                     
                ten  copies  of the cyclostyled paper books,  containing                                                     
                all  documents  on which reliance was placed before  the                                                     
                Tribunal, including any order/orders, either in the case                                                     
                of the assessee itself or in case of any other assessee,                                                     
                which has been followed by the Tribunal.                                                                     
                         This  appeal  shall  be heard  along  with  ITR                                                     
                No.144/84.                                                                                                   
                                                                                                                             
                                                                                                                             
                                                       CHIEF JUSTICE.                                                        
                                                                                                                             
                                                                                                                             
                                                                                                                             
                                                                                                                             
                   3rd October, 2001                   D.K.JAIN,J.                                                           
                   "AK"