Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (3) TMI 267 - HC - Income TaxAdjustment to book profit - Set off - Unabsorbed depreciation and loss - Rectification of mistake u/s 154 - Held that: - The assessee had claimed the set off Rs. 1,39,36,000 in terms of Explanation (iii) (of the second proviso to section 115JA(2) of the Act) as against the brought forward loss as per the books at Rs. 15,01,82,000. Thus, the matter related to the interpretation of the effect which is to be given to the aforesaid provision and, therefore, it was not a mistake which was to be corrected for which jurisdiction under section 154 of the Act could be exercised - Decided in favor of assessee.
|