https://www.taxtmi.com/caselaws?id=286877 The Tribunal admitted the additional ground regarding taxing book profits under Section 115JB, ruling it was a legal issue. It held that Section 115JB does not apply to the appellant company, a joint venture engaged in electricity distribution. The Tribunal rejected the addition on account of efficiency gain, following precedent that 50% of additional revenue from efficiency gains is not taxable. It affirmed the deduction under Section 80IA, stating enhanced profits due to disallowances qualify for deduction. The Tribunal allowed all appeals of the assessee and dismissed those of the Revenue, confirming its decisions. en-us Fri, 14 Jun 2019 00:00:00 +0530 Thu, 19 Mar 2020 10:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286877 The Tribunal admitted the additional ground regarding taxing book profits under Section 115JB, ruling it was a legal issue. It held that Section 115JB does not apply to the appellant company, a joint venture engaged in electricity distribution. The Tribunal rejected the addition on account of efficiency gain, following precedent that 50% of additional revenue from efficiency gains is not taxable. It affirmed the deduction under Section 80IA, stating enhanced profits due to disallowances qualify for deduction. The Tribunal allowed all appeals of the assessee and dismissed those of the Revenue, confirming its decisions. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286877