Per R.V. Easwar, Judicial Member - The assessee is a public limited company engaged in the manufacture and sale of paints. It follows the mercantile system of accounting. A return of income was filed for the assessment year 1984-85 relevant to the accounting year ended 31-12-1983 declaring a total income of Rs. 1,93,21,870. In the course of the assessment proceedings the assessee filed a revised computation of its total income which is as under:

"Berger Paints India Limited.

(Formerly British Paints India Ltd.)

Statement showing amended total income for the assessment year 1984- 85 corresponding to our accounting year ended on 31-12-1983.