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2014 (1) TMI 874 - AT - Income TaxComputation of book profits u/s 115J of the Act – Held that:- The assessee failed to comply with the directions and could not support and substantiate its claim on this issue by furnishing the relevant particulars and by justifying its claim on the basis of relevant provisions of the Act - Keeping in view this failure of the assessee to discharge the burden that lay on it to support and substantiate its claim by producing the relevant particulars and by referring to the relevant provisions of the Companies Act despite specific direction by the Tribunal – there was no justifiable reasons to interfere with the order of the CIT(A) confirming the computation of book profit made by the AO for the purpose of section 115J after rejecting the claim of the assessee for set off of unabsorbed depreciation and brought forward business loss – the order of the CIT(A) upheld – Decided against Assessee. Charging of Interest u/s 234B of the Act – Held that:- The decision in CIT vs. Kwality Biscuits Ltd. [2006 (4) TMI 121 - SUPREME Court] Snowcem India Ltd. vs. DCIT [2009 (1) TMI 6 - BOMBAY HIGH COURT] followed – order of the CIT(A) deleting the interest levied by the AO u/s 234B when the income was computed u/s.115J upheld – Decided against Revenue.
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