https://www.taxtmi.com/caselaws?id=357861 The Tribunal set aside the Commissioner of Income Tax's order invoking revisional jurisdiction u/s 263 for Assessment Year 2012-13. It ruled that the omission of a specific adjustment in book profits did not make the quantum order erroneous or prejudicial to revenue's interest. Additionally, the Tribunal held that the taxes paid on non-monetary perquisites to employees were not required to be added to book profits under section 115JB, as they were not considered income tax. Consequently, the Tribunal allowed the appellant's appeal, emphasizing strict adherence to statutory provisions in computing book profits. en-us Wed, 14 Feb 2018 00:00:00 +0530 Fri, 30 Mar 2018 20:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357861 The Tribunal set aside the Commissioner of Income Tax's order invoking revisional jurisdiction u/s 263 for Assessment Year 2012-13. It ruled that the omission of a specific adjustment in book profits did not make the quantum order erroneous or prejudicial to revenue's interest. Additionally, the Tribunal held that the taxes paid on non-monetary perquisites to employees were not required to be added to book profits under section 115JB, as they were not considered income tax. Consequently, the Tribunal allowed the appellant's appeal, emphasizing strict adherence to statutory provisions in computing book profits. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357861