https://www.taxtmi.com/caselaws?id=178600 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision that the treatment of year-wise unabsorbed depreciation or business loss for calculating book profit u/s 115JB was debatable and did not warrant rectification u/s 154 of the IT Act. The Tribunal held that the AO's year-wise calculation approach was incorrect, emphasizing that the lower of the solitary figures of unabsorbed depreciation or losses brought forward for all earlier years should be reduced for computing book profit u/s 115JB. en-us Fri, 05 Aug 2011 00:00:00 +0530 Tue, 09 Feb 2016 12:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178600 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision that the treatment of year-wise unabsorbed depreciation or business loss for calculating book profit u/s 115JB was debatable and did not warrant rectification u/s 154 of the IT Act. The Tribunal held that the AO's year-wise calculation approach was incorrect, emphasizing that the lower of the solitary figures of unabsorbed depreciation or losses brought forward for all earlier years should be reduced for computing book profit u/s 115JB. Case-Laws Income Tax Fri, 05 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178600