Assessee had shown net profit as per profit and loss account prepared in terms of Parts II and III of Schedule VI to Companies Act, 1956. Assessing Officer while computing tax to be levied under section 115J had taken net profit by excluding prior period adjustments. Tribunal affirmed the order of the Assessing Officer. On appeal the Court held that   the  Assessing Officer could not have taken another figure as net profit instead of net profit shown by assessee as per profit and loss account prepared in terms of Parts II and III of Schedule VI to Companies Act, 1956. (AY. 1990-91)