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2012 (9) TMI 390 - AT - Income TaxComputation of income u/s 115JB - assessee is trying to compute the brought forward losses under the normal Income-tax Act provisions and not under the Companies Act - Held that:- Clause-3 of Explanation to sec. 115JB(2) specifically provides that lower of the amount of loss brought forward or unabsorbed depreciation is to be reduced from the book profit and it is the amount, as per the books of account which to be reduced and not the amount as per the Income-tax Act records, which has been computed under the provisions of the Act - appeal filed by the assessee is dismissed.
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