Revision u/s 263: Waiver of Interest Leads to No Tax Liability u/s 115JB for Assessee.

Revision u/s 263 - revision of return waiver of interest on loan availed from Government of India - period of limitation for filing revised return - The book profit as per the revised computation was negative - Hence, there was no tax payable even under Section 115JB for the said year. - Decided in favor of assessee. .....

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