https://www.taxtmi.com/caselaws?id=272565 The High Court upheld the tribunal's decision to strike down the re-assessment proceedings under Section 147/148 of the Income Tax Act, citing jurisdictional pre-conditions were not satisfied. The court aligned with the Supreme Court's decision in a similar case. Regarding the computation of book profits under Section 115JB and deductions under Sections 10A and 10B, the court emphasized deductions must be based on adjusted book profit under Section 115JA. The court dismissed the appeal by the Revenue, finding no substantial question of law for consideration. en-us Thu, 19 Jan 2012 00:00:00 +0530 Tue, 08 May 2018 13:12:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272565 The High Court upheld the tribunal's decision to strike down the re-assessment proceedings under Section 147/148 of the Income Tax Act, citing jurisdictional pre-conditions were not satisfied. The court aligned with the Supreme Court's decision in a similar case. Regarding the computation of book profits under Section 115JB and deductions under Sections 10A and 10B, the court emphasized deductions must be based on adjusted book profit under Section 115JA. The court dismissed the appeal by the Revenue, finding no substantial question of law for consideration. Case-Laws Income Tax Thu, 19 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272565