Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Book profit tax relief under section 115JB applies when past income arises from advance pricing agreements or secondary adjustments. Relief is provided in the tax payable by a company under section 115JB where book profit includes past income arising from an advance pricing agreement or a secondary adjustment. The relief is computed by a prescribed formula comparing tax on book profit with and without the past income, and comparing corresponding tax for the related past year or years. Any negative figure is deemed to be zero, and the tax credit under section 115JAA is reduced by the amount of relief granted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Book profit tax relief under section 115JB applies when past income arises from advance pricing agreements or secondary adjustments.
Relief is provided in the tax payable by a company under section 115JB where book profit includes past income arising from an advance pricing agreement or a secondary adjustment. The relief is computed by a prescribed formula comparing tax on book profit with and without the past income, and comparing corresponding tax for the related past year or years. Any negative figure is deemed to be zero, and the tax credit under section 115JAA is reduced by the amount of relief granted.
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