https://www.taxtmi.com/caselaws?id=181303 The Tribunal dismissed the revision order passed by the Ld CIT challenging the deduction under section 115JB for the assessment year 2004-05. The Tribunal held that the assessing officer's decision to allow the deduction based on profits of the Sick Industrial Company was plausible and not unsustainable. As both interpretations regarding the deduction were deemed reasonable, the Tribunal ruled in favor of the assessee, emphasizing the importance of the assessing officer's discretion and the debatable nature of the issue. The appeal was allowed, affirming the validity of the deduction under section 115JB. en-us Thu, 14 May 2015 00:00:00 +0530 Wed, 13 Apr 2016 10:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181303 The Tribunal dismissed the revision order passed by the Ld CIT challenging the deduction under section 115JB for the assessment year 2004-05. The Tribunal held that the assessing officer's decision to allow the deduction based on profits of the Sick Industrial Company was plausible and not unsustainable. As both interpretations regarding the deduction were deemed reasonable, the Tribunal ruled in favor of the assessee, emphasizing the importance of the assessing officer's discretion and the debatable nature of the issue. The appeal was allowed, affirming the validity of the deduction under section 115JB. Case-Laws Income Tax Thu, 14 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181303