Tax computation rules amended: reserves and deemed profits from investment linked incentives now included in book profit adjustments. Amendment to the Explanation to section 115J inserts a reference to sub section (1) of section 33AC after the reference to reserves specified in section 80HHD and adds clause (ha) to include the amount deemed to be profits under sub section (3) of section 33AC in the items for computing book profits.
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Provisions expressly mentioned in the judgment/order text.
Tax computation rules amended: reserves and deemed profits from investment linked incentives now included in book profit adjustments.
Amendment to the Explanation to section 115J inserts a reference to sub section (1) of section 33AC after the reference to reserves specified in section 80HHD and adds clause (ha) to include the amount deemed to be profits under sub section (3) of section 33AC in the items for computing book profits.
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