https://www.taxtmi.com/caselaws?id=252744 The court dismissed the revenue's appeal, ruling that the interest on inter-corporate deposits, previously taxed in earlier assessment years, could not be taxed again under Section 115JA for the assessment year 1994-95. Emphasizing the prohibition against double taxation without legislative authorization, the court upheld the ITAT decision to exclude the interest from book profits for all relevant years. The judgment highlighted the necessity for accurate book profits reflecting the relevant year and referenced the Apollo Tyres Ltd. case regarding the scrutiny of profit and loss accounts by Income Tax Assessing Officers. en-us Tue, 23 Sep 2014 00:00:00 +0530 Thu, 13 Aug 2015 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252744 The court dismissed the revenue's appeal, ruling that the interest on inter-corporate deposits, previously taxed in earlier assessment years, could not be taxed again under Section 115JA for the assessment year 1994-95. Emphasizing the prohibition against double taxation without legislative authorization, the court upheld the ITAT decision to exclude the interest from book profits for all relevant years. The judgment highlighted the necessity for accurate book profits reflecting the relevant year and referenced the Apollo Tyres Ltd. case regarding the scrutiny of profit and loss accounts by Income Tax Assessing Officers. Case-Laws Income Tax Tue, 23 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252744