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2015 (11) TMI 1262 - AT - Income TaxMAT - whether credit u/s 90 would be given on tax liability under the provisions of Sec.115JB? - CIT(A) allowed claim - Held that:- The income on which tax has been paid abroad was included in ‘book profit’ for the purpose of Sec.115JA. It was held that once taxable income was determined either under the normal provisions of the Act or as per Sec.115JB, subsequent portion relating to computation of the tax has to be governed by the normal provision of the Act. It also held that there was no provision in the Act, debarring granting of credit for tax paid abroad in case income is computed u/s 115JA. It was further held that the assessee could not be denied the set off of tax relief against the tax liability determined u/s 115JA. - Decided against revenue
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