section
115JB of the Act. In the assessment order, the AO had made
additions/disallow ances on certain issues and the AO had
recorded ... question of concealment u/s 271(1)(c)
of the Act if computation is made u/s 115JB of the Act.
This is supported
brought forward unabsorbed depreciation. 'Book
Profits' under section 115JB of the Income Tax Act, 1961 (in short, 'the
Act') were declared ... section 80HHC of the
Act. Consequently, Revenue's ground No. 3 is dismissed.
17. Ground No. 4 - 'Book Profits' under section 115JB
next issue is with regard to the applicability of provisions of section 115JB of the
Act for the assessee bank. We find that this issue ... tribunals wherein it had been categorically held that the
provisions of section 115JB of the Act are not applicable to an assessee unless
erred in holding that interest u/s 234B & 234C cannot be
charged when income is taxable u/s 115JB ... Assessing Officer charged
interest u/s 234B & 234C of the Act with respect to the tax liability u/s
115JB
resulting in lower amount of book profit for
the purpose of section 115JB of the Act and thereby
underassessment of income to that extent ... impact of the book profits as per
provisions of section 115JB of the Act.
• The AO is directed to ensure that the above accounting treatment
doubtful debts did
not fall under clause (c) of Explanation to section 115JB of the Act. This
order of the Ld. CIT(A) was upheld ... interest u/s 234B and 234C of
the Act. The ld AR submitted that clause (i) to Explanation 1 to sec. 115JB
was inserted
except such adjustment as are provided for in
Explanation to section 115JB . Reliance was placed on the decision of the Supreme Court
in the case ... Supreme Court had
held that while determining the book profit under Section 115JB , the Assessing Officer
could not re-compute the profit and loss account
should also be applied for giving credit u/s 115JAA . The tax
liabilities calculated u/s 115JB by applying the explanation 2, the tax liability ... view, while calculating the MAT credit u/s 115JAA , the
same explanation '2' in section 115JB must be applied.
9.6 The earlier judgments
dated 06.03.2015. The assessee company is also covered
by provisions of Sec. 115JB of the Act and ld. Assessing Officer
calculated tax and raised demand ... assessee
company has paid taxes under provisions of Sec. 115JB of the Act and
filed return of income. In the current assessment year, the assessee
account of expense u/s
14A to ascertain book profit u/s 115JB disregarding Explanation-(f) to Sec.
115JB of the Act.
20. In assessment ... import of provisions of the Act is possible as far as
Section 115JB is concerned. I am also of the view that what
