https://www.taxtmi.com/caselaws?id=366481 The High Court affirmed the Tribunal's decision regarding the disallowance of the claim for reducing the disclosed amount in the computation of book profit under Section 115JA of the Income Tax Act, 1961. The Court upheld the assessee's claim for reduction based on Section 68 of the Finance Act, 1997, emphasizing that the provisions of Section 68 override other provisions. The interest income on share application money voluntarily disclosed under the Income Tax Scheme for a previous year was not included in the total income for the current assessment year. The appeal was dismissed, and no costs were awarded. en-us Wed, 13 Jun 2018 00:00:00 +0530 Wed, 05 Sep 2018 10:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366481 The High Court affirmed the Tribunal's decision regarding the disallowance of the claim for reducing the disclosed amount in the computation of book profit under Section 115JA of the Income Tax Act, 1961. The Court upheld the assessee's claim for reduction based on Section 68 of the Finance Act, 1997, emphasizing that the provisions of Section 68 override other provisions. The interest income on share application money voluntarily disclosed under the Income Tax Scheme for a previous year was not included in the total income for the current assessment year. The appeal was dismissed, and no costs were awarded. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366481