https://www.taxtmi.com/caselaws?id=332235 The Tribunal upheld the Assessing Officer's decision to re-compute the book profit under section 115JB by including profits from capital assets directly credited to reserves without routing through the profit & loss account. The Tribunal also upheld the disallowance of the cost of improvement under normal computation and section 115JB due to lack of substantiated evidence. The Tribunal dismissed the appeal, emphasizing compliance with the Companies Act and Income Tax Act provisions, affirming the Revenue authorities' decisions. en-us Mon, 01 Aug 2016 00:00:00 +0530 Tue, 13 Sep 2016 11:25:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332235 The Tribunal upheld the Assessing Officer's decision to re-compute the book profit under section 115JB by including profits from capital assets directly credited to reserves without routing through the profit & loss account. The Tribunal also upheld the disallowance of the cost of improvement under normal computation and section 115JB due to lack of substantiated evidence. The Tribunal dismissed the appeal, emphasizing compliance with the Companies Act and Income Tax Act provisions, affirming the Revenue authorities' decisions. Case-Laws Income Tax Mon, 01 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332235