https://www.taxtmi.com/caselaws?id=119423 The appeal was allowed for statistical purposes, with the matter remanded to the Assessing Officer for proper computation of book profit under section 115JA. The Tribunal clarified that the amount to be reduced from the net profit is the profit derived by an industrial undertaking eligible for deduction under section 80-IA, not necessarily the profit eligible for deduction. The lower authorities were directed to re-compute the book profit and total income of the assessee in accordance with judicial pronouncements such as CIT v. Sterling Foods and Pandian Chemicals v. CIT. en-us Mon, 28 May 2007 00:00:00 +0530 Tue, 31 Jul 2012 23:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119423 The appeal was allowed for statistical purposes, with the matter remanded to the Assessing Officer for proper computation of book profit under section 115JA. The Tribunal clarified that the amount to be reduced from the net profit is the profit derived by an industrial undertaking eligible for deduction under section 80-IA, not necessarily the profit eligible for deduction. The lower authorities were directed to re-compute the book profit and total income of the assessee in accordance with judicial pronouncements such as CIT v. Sterling Foods and Pandian Chemicals v. CIT. Case-Laws Income Tax Mon, 28 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119423