https://www.taxtmi.com/caselaws?id=385072 The Tribunal ruled in favor of the assessee in a case concerning the interpretation of provisions of sec.115JA of the IT Act. It held that adjusted book profits under sec.115JA are eligible for benefits under other provisions of the Act, including relief under section 54EC. The Tribunal allowed the appeal, dismissing the departmental appeal, and clarified that capital gains exempt u/s.54EC cannot be considered for computing book profit u/s.115JA. The decision was influenced by the High Court's ruling, resulting in a favorable outcome for the assessee. en-us Sat, 20 Jul 2019 00:00:00 +0530 Wed, 28 Aug 2019 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385072 The Tribunal ruled in favor of the assessee in a case concerning the interpretation of provisions of sec.115JA of the IT Act. It held that adjusted book profits under sec.115JA are eligible for benefits under other provisions of the Act, including relief under section 54EC. The Tribunal allowed the appeal, dismissing the departmental appeal, and clarified that capital gains exempt u/s.54EC cannot be considered for computing book profit u/s.115JA. The decision was influenced by the High Court's ruling, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Sat, 20 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385072