The Assessing officer and CIT(A) should have followed binding precedence and held that S.115JB is not applicable because of failure of integral computation and charging provision which require as precondition computation of GTI, Deductions, TI and tax payable . And also because company is not a dividend paying company. https://www.taxtmi.com/article/detailed?id=10534 Applicability of the book-profit tax under section 115JB requires integrated computation: there must be computation of Gross Total Income, allowance of deductions (including Chapter VIA), computation of Total Income and tax payable; if GTI and total income are Nil and no tax is payable-for example where unabsorbed depreciation is kept apart for carry forward-these preconditions are not satisfied and the book-profit levy cannot be invoked. en-us Tue, 19 Jul 2022 13:37:02 +0530 Tue, 19 Jul 2022 13:37:02 +0530 TaxTMI RSS Generator The Assessing officer and CIT(A) should have followed binding precedence and held that S.115JB is not applicable because of failure of integral computation and charging provision which require as precondition computation of GTI, Deductions, TI and tax payable . And also because company is not a dividend paying company. https://www.taxtmi.com/article/detailed?id=10534 Applicability of the book-profit tax under section 115JB requires integrated computation: there must be computation of Gross Total Income, allowance of deductions (including Chapter VIA), computation of Total Income and tax payable; if GTI and total income are Nil and no tax is payable-for example where unabsorbed depreciation is kept apart for carry forward-these preconditions are not satisfied and the book-profit levy cannot be invoked. Articles Income Tax Tue, 19 Jul 2022 13:37:02 +0530 https://www.taxtmi.com/article/detailed?id=10534