https://www.taxtmi.com/caselaws?id=207590 The court concluded that Section 115JB applies to companies entitled to deductions under Section 80-IC. The legislative intent behind Section 115JB was to ensure a minimum tax liability for companies, regardless of other deductions. The Executive policy's promise of tax exemption required legislative approval, which was not granted, and thus, promissory estoppel did not apply. The court dismissed the writ petitions, affirming that companies benefiting from Section 80-IC deductions must still comply with the minimum tax requirements of Section 115JB. en-us Fri, 26 Nov 2010 00:00:00 +0530 Mon, 24 Dec 2012 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207590 The court concluded that Section 115JB applies to companies entitled to deductions under Section 80-IC. The legislative intent behind Section 115JB was to ensure a minimum tax liability for companies, regardless of other deductions. The Executive policy's promise of tax exemption required legislative approval, which was not granted, and thus, promissory estoppel did not apply. The court dismissed the writ petitions, affirming that companies benefiting from Section 80-IC deductions must still comply with the minimum tax requirements of Section 115JB. Case-Laws Income Tax Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207590