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2006 (7) TMI 137 - KARNATAKA HIGH COURTDeduction under section 32AB - "1. Whether, Tribunal is correct in law in directing the Assessing Officer not to deduct income-tax refunds of earlier years from the book profits in computing the deduction under section 32AB? 2. Whether, the Tribunal is correct in law in holding that the income-tax refunds for earlier years are required to be added back for the purpose of allowing deductions under section 32AB(3) is specified and exhaustive not to give scope for addition of refund of income tax of earlier years as such?" - we deem it proper to answer the questions of law raised by the Revenue against the Revenue and in favour of the asses-see.
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