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2008 (6) TMI 377 - AT - Income TaxComputation of book profit u/s 115JB - Minimum Alternate Tax - deduction claimed u/s 10B - CIT(A) allowed the deduction claimed u/s 10B - HELD THAT:- A careful perusal of clause (ii) of Explanation to section 115JB(2) will reveal that though the said clause speaks about the amount of ‘income’, it also speaks of "if, any such amount is credited to Profit & Loss Account." Thus, while reading the said clause as a whole, it will become clear that the amount of income which can be reduced by the Assessing Officer for computing the book profit under that clause will be the amount which is credited to the Profit & Loss Account and not the amount of income which is claimed by the assessee or determined by the Assessing Officer while assessing the income under the regular provisions of Income-tax Act. Such a view is also supported by the decision of Delhi Tribunal in the case of Moser Baer India Ltd.[2007 (7) TMI 434 - ITAT DELHI]. Therefore, we find no merit in this ground of the department and the same is dismissed. In the result, the appeal filed by the revenue is dismissed.
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