On appeal by Revenue, the Court held that the Tribunal ought to have examined the issue in the light of clause (g) of the Explanation below sub-section (2) of section 115JA inserted with effect from April 1, 1998 by the Finance (No. 2) Act, 2009 which was relevant. The amendment to the Explanation to section 115JA with effect from April 1, 1998 was not considered by the Supreme Court for the assessment year 1997-98.  The decision was therefore not relevant and the order was set aside. The matter was remitted back to the Tribunal to re-examine the issue afresh in the light of the amendment brought to the definition of book profit with effect from April 1, 1998 or otherwise, the amendment would be rendered otiose. (AY.1998-99)