No body appeared on behalf of the respondent on several occasions. Therefore, heard only learned counsel for the appellant.

2. The questions raised are as under:

1. “Whether on the facts and in the circumstances of the case, the Tribunal was justified in restricting the net profit at 12.5% of receipt of Arbitration Award when it held that income had to be computed in accordance with Section 176 (3A) of the Income Tax Act ?”

2. “Whether the facts and in the circumstances of the case, the Tribunal was justified in giving relief of Rs.10,92,050/- to the assessee?”

3. The contention of the learned counsel for the appellant is that the A.O. held that Rs.1348095/-was received during the year after discontinuance of business and, therefore, this amount is required to be added to the total income of the assessee in view of Section 176(3A) of the Income Tax Act, 1961. On the basis of this addition, after giving deduction, which is lawfully permissible, the A.O. levied the tax on the assessed income in the assessment order dated 31.03.1997. The C.I.T. (A), Ranchi specifically accepted the contention of the Revenue that the total income received after discontinuance of business is requir