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2017 (8) TMI 236 - AT - Income TaxAdding back excess deduction under the provision of Sec. 115JB(2) - MAT computation - unabsorbed depreciation adjustment - Held that:- Neither the brought forward loss nor the unabsorbed depreciation has been written off in the books of the accounts. Both are appearing in the books of accounts in-spite of the facts that the unabsorbed depreciation was adjusted in the immediate preceding year to the extent of ₹ 107.47 while determining the book profit under section 115JB of the Act. It is because the aforesaid adjustment was not made in the books of accounts but in the computation of income while determining the book profit as per the provisions of section 115JB of the Act. Thus, law on this issue is fairly clear that the effect has to given for the brought forward loss or unabsorbed depreciation as per the books and as per the provisions of section 115JB of the Act. Respectfully following the order of this co-ordinate Bench in the case of Binani Industries Ltd. (2016 (3) TMI 873 - ITAT KOLKATA) we reverse the order of Ld. CIT(A) in this regard and direct the AO to delete the addition - Decided in favour of assessee.
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