https://www.taxtmi.com/caselaws?id=294923 The Tribunal allowed the assessee's appeals regarding the disallowance of the provision for premium on redemption of preference shares under Section 115JB of the Income Tax Act. The Tribunal held that the provision for premium on redemption of preference shares was an ascertained liability and should be deductible while computing book profit. The Revenue's appeals on the scope of assessment under Section 153A were dismissed, affirming the CIT(A)'s deletion of additions not based on incriminating material found during the search. The assessee's claim regarding the treatment of interest income from FDRs was dismissed as not pressed. en-us Wed, 13 Jun 2018 00:00:00 +0530 Mon, 10 May 2021 08:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294923 The Tribunal allowed the assessee's appeals regarding the disallowance of the provision for premium on redemption of preference shares under Section 115JB of the Income Tax Act. The Tribunal held that the provision for premium on redemption of preference shares was an ascertained liability and should be deductible while computing book profit. The Revenue's appeals on the scope of assessment under Section 153A were dismissed, affirming the CIT(A)'s deletion of additions not based on incriminating material found during the search. The assessee's claim regarding the treatment of interest income from FDRs was dismissed as not pressed. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294923