https://www.taxtmi.com/caselaws?id=207368 The High Court of Madras set aside the Tribunal's decision, ruling in favor of the Revenue. The Court upheld the Commissioner of Income Tax's direction under Section 263 of the Income Tax Act, 1961, emphasizing the importance of balance sheet information and the absence of unabsorbed loss or depreciation for the relevant year in determining book profits under Section 115J. en-us Wed, 03 Aug 2011 00:00:00 +0530 Tue, 20 Mar 2012 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207368 The High Court of Madras set aside the Tribunal's decision, ruling in favor of the Revenue. The Court upheld the Commissioner of Income Tax's direction under Section 263 of the Income Tax Act, 1961, emphasizing the importance of balance sheet information and the absence of unabsorbed loss or depreciation for the relevant year in determining book profits under Section 115J. Case-Laws Income Tax Wed, 03 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207368