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2009 (11) TMI 76 - ITAT BOMBAY-GDeduction u/s 43B r/w s. 36(1)(va) - payments of the employee's contribution to the PF and to the State insurance corporation if the same is paid within the grace period of five years - CIT(A) followed the decisions of the Tribunal to hold that payments made within the grace period are not hit by the provisions of s. 43B. - HELD THAT:- As DR was not able to place any contrary decision on record. We therefore, hold that the order passed by the learned CIT(A) does not call for interference. MAT computation - Interest chargeable to tax u/s 234B on the MAT determined u/s 115JB - CIT(A) opinion that interest is not chargeable on deemed income and tax thereon as relying on Kwality Biscuits Ltd.[2006 (4) TMI 121 - SC ORDER] - HELD THAT:- As DR has not pointed out any contrary decision on this aspect. we uphold the order of the learned CIT(A) and reject ground of the Revenue. Method of computation of deduction u/s 80HHC - determination of book profit u/s.115JB - As per CIT(A) deduction under s. 80HHC has to be computed after taking 'book profit' as total income of the assessee - HELD THAT:- View taken by the learned CIT(A) is in conformity with the decision of Syncome Formulations (I) Ltd.[2007 (3) TMI 288 - ITAT BOMBAY-H] held that deduction under s. 80HHC deserves to be computed by taking into consideration 'book profit'. Appeal filed by the Revenue is dismissed.
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