https://www.taxtmi.com/caselaws?id=331359 The High Court upheld the Tribunal's decision regarding the exclusion of capital receipts from the computation of total income and book profit under section 115JB. The Court emphasized the limited scope of rectification powers, stating that specific challenges to the computation under Section 115JB must be made before seeking adjustments in book profits. The Court held that the Assessing Officer cannot go beyond the directions of the CIT(A) and rejected the appellant's request for rectification to exclude subsidies from the book profit calculation. en-us Mon, 08 Aug 2016 00:00:00 +0530 Sat, 20 Aug 2016 08:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331359 The High Court upheld the Tribunal's decision regarding the exclusion of capital receipts from the computation of total income and book profit under section 115JB. The Court emphasized the limited scope of rectification powers, stating that specific challenges to the computation under Section 115JB must be made before seeking adjustments in book profits. The Court held that the Assessing Officer cannot go beyond the directions of the CIT(A) and rejected the appellant's request for rectification to exclude subsidies from the book profit calculation. Case-Laws Income Tax Mon, 08 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331359