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2014 (7) TMI 2 - AT - Income TaxInterest expenditure – Calculation of book profit u/s 115JB of the Act - minimum alternate tax (MAT) – Held that:- Following Hitesh S. Mehta Versus DCIT Central Circle- 23, Mumbai [2013 (10) TMI 1065 - ITAT MUMBAI] - books of accounts produced by the assessee during the assessment proceedings has been held to be unreliable - Whether the interest liabilities constitutes ascertained one or not is also linked to the issue of rejection of books of accounts as the books of account is the basis for computation of book profits u/s 115JA of the Act – thus, the order of the CIT(A) is set aside and the matter is remitted back for fresh adjudication – Decided in favour of Assessee.
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