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2017 (8) TMI 32 - HC - Income TaxReworking of the book profits by AO as per the provisions of Section 115JB - MAT - Assessee had directly credited the profit arising from sale of land to Capital Reserve Account in the balance sheet rather than routing it through Profit and Loss Account in the manner provided as per PartII and PartIII of Schedule VI to the Companies Act, 1956 - Held that:- Tribunal referring to the Judgment of the Apex Court in a case of Apollo Tyres Ltd. v. C.I.T. [2002 (5) TMI 5 - SUPREME Court] and Akshay Textiles Trading and Agencies Pvt.Ltd. [2007 (10) TMI 251 - BOMBAY HIGH COURT] as observed no infirmity in the order of ld. CIT(A) for deleting the addition under Section 115JB.” Thus Tribunal has not committed any error. Appeal dismissed.
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