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2016 (8) TMI 231 - CALCUTTA HIGH COURT

2016 (8) TMI 231 - CALCUTTA HIGH COURT - [2016] 386 ITR 477 - MAT - Addition being excise subsidy received to the book profits, as a reserve according to Explanation (b) to Section 115JB - Held that:- As decided in Apollo Tyres Ltd. Vs. CIT [2002 (5) TMI 5 - SUPREME Court] Assessing Officer while computing the income under section 115J has only the power of examining whether the books of account are certified by the authorities under the Companies Act as having been properly maintained in accord .....

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go behind the accounts. Income-tax Appellate Tribunal is correct in deleting the addition - Decided against the revenue. - ITA No. 200 of 2009 - Dated:- 22-7-2016 - Girish Chandra Gupta And Arindam Sinha, JJ. Mr.M.P.Agarwal, Ms.Mamta Bhargava, Advocates For the Appellant Mr. J. P. Khaitan, Sr. Advocate, Mr. Siddharth Das, Advocate For the Respondent ORDER The Court : The subject matter of challenge is a judgment and order dated 20th March, 2009 passed by the learned Income Tax Appellate Tribuna .....

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rding to Explanation (b) to Section 115JB of the Income Tax Act, 1961 ? The facts and circumstance of the case briefly stated are as follows:- The assessee is a newly established undertaking, which is entitled to the benefit under section 80IB. It would appear from the assessment order that under the normal computation, the total income after giving deduction under section 80IB was Nil . In the computation under section 115JB, the assessing officer added to the book profit a sum of ₹ 3,60, .....

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