TMI Blog2019 (10) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... ccordance with Part II and Part III of Schedule VI of the Companies Act, 1956 - HELD THAT:- The issue has already been decided by a Division Bench of this Court in Kerala State Electricity Board, Thiruvananthapuram v. Dy. Commissioner of Income Tax, Circle 1, Thiruvananthapuram [ 2010 (11) TMI 127 - KERALA HIGH COURT] after interpreting the provisions under Section 115JB, against the Revenue. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal is filed by the Department inter alia raising the following substantial question of law: Whether on the facts and in the circumstances of the case, the Hon'ble Tribunal was correct in law, in holding that the provisions of section 115JB of the Income Tax Act, 1961 are not applicable to assessee to whom the proviso to sub-section (2) of Section 211 of the Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een re-iterated by a Division Bench of the Bombay High Court in The Commissioner of Income Tax-LTU, Commissioner of Income Tax (IT)-3 v. Union Bank of India and Others (2019 (5) TMI 355 Bombay High Court), after referring to the decision in KSEB (supra) In the light of the aforesaid pronouncements by the Kerala High Court as well as the Bombay High Court, the question of law ra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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