https://www.taxtmi.com/caselaws?id=242658 The Tribunal dismissed both the assessee's and revenue's appeals regarding the computation of book profits under section 115J of the Income Tax Act. The AO's disallowance of set off of unabsorbed depreciation and business loss against book profit was upheld as the assessee failed to comply with the Tribunal's directions. Additionally, the Tribunal ruled in favor of the assessee regarding the charging of interest under section 234B, following precedents and distinguishing provisions of sections 115J and 115JA. The decision aligned with Supreme Court rulings, resulting in the dismissal of the revenue's appeal. en-us Fri, 28 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:46:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242658 The Tribunal dismissed both the assessee's and revenue's appeals regarding the computation of book profits under section 115J of the Income Tax Act. The AO's disallowance of set off of unabsorbed depreciation and business loss against book profit was upheld as the assessee failed to comply with the Tribunal's directions. Additionally, the Tribunal ruled in favor of the assessee regarding the charging of interest under section 234B, following precedents and distinguishing provisions of sections 115J and 115JA. The decision aligned with Supreme Court rulings, resulting in the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242658