https://www.taxtmi.com/caselaws?id=379627 The court held that Section 115JB, as it stood prior to its amendment by the Finance Act, 2012, was not applicable to banking companies. The court found that the provisions of Section 115JB were unworkable for banking companies due to the differing accounting standards they follow. Consequently, the rectification order passed by the Assessing Officer under Section 154 was deemed irrelevant, and all appeals were dismissed in favor of the assessee. en-us Tue, 16 Apr 2019 00:00:00 +0530 Sat, 04 May 2019 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379627 The court held that Section 115JB, as it stood prior to its amendment by the Finance Act, 2012, was not applicable to banking companies. The court found that the provisions of Section 115JB were unworkable for banking companies due to the differing accounting standards they follow. Consequently, the rectification order passed by the Assessing Officer under Section 154 was deemed irrelevant, and all appeals were dismissed in favor of the assessee. Case-Laws Income Tax Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379627