https://www.taxtmi.com/caselaws?id=362623 The Tribunal allowed the appeal filed by the Revenue, setting aside the CIT(A)'s order and reinstating the addition of share of loss from two firms to the assessee's profit under Section 115JB of the Income Tax Act, 1961. The Tribunal held that the share of loss should be added back to profits as per Clause (ii) of the Explanation to Section 115JB, aligning with the correct interpretation of the law. en-us Tue, 26 Jun 2018 00:00:00 +0530 Fri, 29 Jun 2018 07:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362623 The Tribunal allowed the appeal filed by the Revenue, setting aside the CIT(A)'s order and reinstating the addition of share of loss from two firms to the assessee's profit under Section 115JB of the Income Tax Act, 1961. The Tribunal held that the share of loss should be added back to profits as per Clause (ii) of the Explanation to Section 115JB, aligning with the correct interpretation of the law. Case-Laws Income Tax Tue, 26 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362623