https://www.taxtmi.com/caselaws?id=407910 The Tribunal partly allowed the appeal, determining that the sum of Rs. 4,76,25,000 received from the sale of FSI is not taxable under normal provisions as it is a capital receipt. It directed the exclusion of this sum from book profits under Section 115JB. However, the Tribunal upheld the applicability of Section 115JB to the assessee company, requiring tax based on book profits despite no tax liability under normal provisions. en-us Fri, 21 May 2021 00:00:00 +0530 Sat, 26 Oct 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407910 The Tribunal partly allowed the appeal, determining that the sum of Rs. 4,76,25,000 received from the sale of FSI is not taxable under normal provisions as it is a capital receipt. It directed the exclusion of this sum from book profits under Section 115JB. However, the Tribunal upheld the applicability of Section 115JB to the assessee company, requiring tax based on book profits despite no tax liability under normal provisions. Case-Laws Income Tax Fri, 21 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407910