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2014 (7) TMI 956 - AT - Income TaxInterest expenses Computation of book profits u/s 115JB - Held that:- 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 - following the decision in M/s. Cascade Holdings Pvt. Ltd. Versus DCIT-CC-31, Mumbai [2014 (7) TMI 896 - ITAT MUMBAI] - the issue is to be remitted back to the CIT (A) for fresh adjudication Decided in favour of assessee. Interest u/s 234A, 234B and 234C Held that:- The issue relating to the deduction of interest expenditure is remitted to the CIT (A) for fresh adjudication thus, the liability of the assessees u/s 234A, 234B and 234C depends upon the proposed adjudication of the CIT (A) in the set aside proceedings Decided in favour of Assessee.
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