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2015 (6) TMI 27 - AT - Income TaxAddition to the book profit u/s 115JB - Held that:- We are not inclined to concur with the finding of CIT(A) who has confirmed the addition of ₹ 33,91,715/- made to book profit u/s. 115JB of the Act. We find that Tribunal in assessee’s own case for A.Y. 06-07 allowed the appeal by following the decision of CIT vs. Meghmani Organics Ltd. (2014 (7) TMI 673 - GUJARAT HIGH COURT ), wherein it has been held that material aspect of Tribunal’s recording the fact is that amount of ₹ 71 lacs was reduced by assessee passed on after approval of company in its AGM, which was also accepted by the auditors. If that be so, the Assessing Officer thereafter could not have made any further adjustment dehors the provisions of Section 115JA of the Act. Nothing contrary brought to our knowledge on behalf of revenue. Facts being similar so following same reasoning, we are not inclined to conquer with the finding of CIT(A) and Assessing Officer is directed to delete the addition of ₹ 33,91,715/- as discussed above. - Decided in favour of assesse.
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