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    Income Tax

    Allowability of loss on demerger in the computation of book...

    Court Rules Loss on Demerger Can Be Debited to Profit and Loss Account u/s 115JB, Not Against Reserves.

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    Income TaxMay 25, 2016Case LawsAT

    Allowability of loss on demerger in the computation of book profit u/s 115JB - MAT - the observation of the AO that such loss could not be debited to the profit and loss account and ought to have been adjusted against the reserve of the assessee company is not Correct - AT

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