https://www.taxtmi.com/caselaws?id=6081 Under section 115J, book profit had to be taken from the company's certified profit and loss account, and the Assessing Officer could not re-open the accounts or alter net profit except for the specific adjustments authorised by the Explanation; the assessee was therefore given relief on that point. The text also states that dividend income arising from investment in Unit Trust of India units was includible in the profits of the eligible business under section 32AB because the activity was treated as business, and that buying and selling UTI units was not speculative business under section 73 since the statutory fiction in the UTI Act could not be extended to treat units as shares. en-us Thu, 02 May 2002 00:00:00 +0530 Thu, 26 Jun 2025 14:20:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6081 Under section 115J, book profit had to be taken from the company's certified profit and loss account, and the Assessing Officer could not re-open the accounts or alter net profit except for the specific adjustments authorised by the Explanation; the assessee was therefore given relief on that point. The text also states that dividend income arising from investment in Unit Trust of India units was includible in the profits of the eligible business under section 32AB because the activity was treated as business, and that buying and selling UTI units was not speculative business under section 73 since the statutory fiction in the UTI Act could not be extended to treat units as shares. Case-Laws Income Tax Thu, 02 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6081