https://www.taxtmi.com/caselaws?id=382339 The court dismissed the Tax Appeal and upheld the validity of clause (iii) in Explanation 1 to Section 115JB(2) of the Income Tax Act, 1961. The court found that the provision applies uniformly to all companies falling under Section 115JB without discrimination, does not violate Articles 14 and 19(1)(g) of the Constitution, and serves the objective of ensuring minimum tax payment by profitable companies. The court emphasized that the provision's distinction between brought forward business loss and unabsorbed depreciation is justified and does not render it unconstitutional. en-us Tue, 25 Jun 2019 00:00:00 +0530 Mon, 01 Jul 2019 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382339 The court dismissed the Tax Appeal and upheld the validity of clause (iii) in Explanation 1 to Section 115JB(2) of the Income Tax Act, 1961. The court found that the provision applies uniformly to all companies falling under Section 115JB without discrimination, does not violate Articles 14 and 19(1)(g) of the Constitution, and serves the objective of ensuring minimum tax payment by profitable companies. The court emphasized that the provision's distinction between brought forward business loss and unabsorbed depreciation is justified and does not render it unconstitutional. Case-Laws Income Tax Tue, 25 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382339