https://www.taxtmi.com/caselaws?id=208604 The deduction under clause (iv) of the Explanation to Section 115JB is computed on the basis of book profits, not on profits computed under the Act. The legal position was treated as settled in light of the Supreme Court's decision in Ajanta Pharma Limited, and the interpretation of Section 115JB was applied accordingly in favour of the assessee. The appeals were disposed of in accordance with that settled construction of the provision. en-us Fri, 13 Jan 2012 00:00:00 +0530 Sat, 21 Jan 2012 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208604 The deduction under clause (iv) of the Explanation to Section 115JB is computed on the basis of book profits, not on profits computed under the Act. The legal position was treated as settled in light of the Supreme Court's decision in Ajanta Pharma Limited, and the interpretation of Section 115JB was applied accordingly in favour of the assessee. The appeals were disposed of in accordance with that settled construction of the provision. Case-Laws Income Tax Fri, 13 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208604