https://www.taxtmi.com/caselaws?id=181657 The court concluded that Fringe Benefit Tax (FBT) should not be added back to the net profit for computing book profit under Section 115JB of the Income Tax Act. The court held that FBT does not fall under the term "income tax" for the purposes of Explanation 1(a) to Section 115JB, emphasizing the legislative intent and lack of amendment to include FBT in the adjustments. The revenue's appeal was dismissed, and the Tribunal's decision in favor of the assessee was upheld. en-us Fri, 24 Aug 2012 00:00:00 +0530 Thu, 21 Apr 2016 12:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181657 The court concluded that Fringe Benefit Tax (FBT) should not be added back to the net profit for computing book profit under Section 115JB of the Income Tax Act. The court held that FBT does not fall under the term "income tax" for the purposes of Explanation 1(a) to Section 115JB, emphasizing the legislative intent and lack of amendment to include FBT in the adjustments. The revenue's appeal was dismissed, and the Tribunal's decision in favor of the assessee was upheld. Case-Laws Income Tax Fri, 24 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181657