Penalty u/s.271(1)(c) - assessee’s claim for unabsorbed ...

Penalty Case: Section 271(1)(c) on Excessive Unabsorbed Depreciation Claim in Book Profit Calculation u/s 115JB.

July 21, 2016

Case Laws Income Tax AT

Penalty u/s.271(1)(c) - assessee’s claim for unabsorbed depreciation in the computation of its’ book profit u/s. 115JB a little over 100% - Notably, the provision does not employ the word “losses”. In fact, even if it did, it would only imply losses for all the preceding years, taken cumulatively, as reduced by the cumulative profit (for all these years). And, at any rate, may give rise to some doubt only in such a non-existent case. - AT

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Penalty u/s.271(1)(c) - assessee’s claim for unabsorbed ...

Penalty Case: Section 271(1)(c) on Excessive Unabsorbed Depreciation Claim in Book Profit Calculation u/s 115JB.

July 21, 2016

Case Laws Income Tax AT

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