https://www.taxtmi.com/caselaws?id=179937 The Tribunal partly allowed the appeal, deciding that notional income from interest on zero coupon bonds should be excluded from book profits under section 115JA. The issue regarding allocation of expenditure against dividend income was dismissed due to lack of necessary approval. The judgment emphasized adherence to the Companies Act in book profit computation and the binding nature of CBDT circulars in tax assessments. en-us Sun, 31 Dec 2006 00:00:00 +0530 Tue, 27 Feb 2024 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179937 The Tribunal partly allowed the appeal, deciding that notional income from interest on zero coupon bonds should be excluded from book profits under section 115JA. The issue regarding allocation of expenditure against dividend income was dismissed due to lack of necessary approval. The judgment emphasized adherence to the Companies Act in book profit computation and the binding nature of CBDT circulars in tax assessments. Case-Laws Income Tax Sun, 31 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179937