https://www.taxtmi.com/caselaws?id=275558 The appeal by the Revenue challenging the entitlement to deduction under BOHHC on book profits under section 115JA/JB was dismissed. The Tribunal and subsequent Supreme Court rulings clarified that computation should be based on book profits, not normal computation, and that full export profits of 100% are considered "eligible profits" under clause (iv) of Explanation to Section 115JB. The Court rejected the argument that both "eligibility" and "deductibility" of the profit must be considered together for deduction calculation. The Tax Case Appeal was dismissed with no costs incurred. en-us Mon, 30 Jul 2018 00:00:00 +0530 Mon, 08 Oct 2018 07:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275558 The appeal by the Revenue challenging the entitlement to deduction under BOHHC on book profits under section 115JA/JB was dismissed. The Tribunal and subsequent Supreme Court rulings clarified that computation should be based on book profits, not normal computation, and that full export profits of 100% are considered "eligible profits" under clause (iv) of Explanation to Section 115JB. The Court rejected the argument that both "eligibility" and "deductibility" of the profit must be considered together for deduction calculation. The Tax Case Appeal was dismissed with no costs incurred. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275558