https://www.taxtmi.com/caselaws?id=258300 The Tribunal partly allowed the assessee's appeal, setting aside the CIT's directions on certain issues including the addition of liquidated damages and outstanding interest payable to IDBI and IFCI. The Tribunal upheld the principle of computation under Section 115JB, directing the AO to recompute book profits and consider only those amounts allowed in earlier years as income under Section 41(1). The assessee was given the opportunity to make submissions in this regard. en-us Wed, 11 Mar 2015 00:00:00 +0530 Mon, 06 Apr 2015 05:57:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258300 The Tribunal partly allowed the assessee's appeal, setting aside the CIT's directions on certain issues including the addition of liquidated damages and outstanding interest payable to IDBI and IFCI. The Tribunal upheld the principle of computation under Section 115JB, directing the AO to recompute book profits and consider only those amounts allowed in earlier years as income under Section 41(1). The assessee was given the opportunity to make submissions in this regard. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258300