https://www.taxtmi.com/caselaws?id=305690 The Appeal by the Revenue challenging the judgment of the Income Tax Appellate Tribunal was dismissed. The Tribunal's decision on disallowances during assessment proceedings, set off of brought forward losses, classification of the Assessee as a company substantially interested, and computation of book profit under sections 79, 115JB, and 2(18)(b)(B)(c) of the Income Tax Act was upheld. The Tribunal's analysis found the Assessee to meet the criteria of a company substantially interested, following accounting standards for depletion of producing properties. The Appeal was deemed unjustifiable, with no substantial legal questions identified for consideration. en-us Fri, 19 Dec 2014 00:00:00 +0530 Tue, 20 Dec 2022 10:04:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305690 The Appeal by the Revenue challenging the judgment of the Income Tax Appellate Tribunal was dismissed. The Tribunal's decision on disallowances during assessment proceedings, set off of brought forward losses, classification of the Assessee as a company substantially interested, and computation of book profit under sections 79, 115JB, and 2(18)(b)(B)(c) of the Income Tax Act was upheld. The Tribunal's analysis found the Assessee to meet the criteria of a company substantially interested, following accounting standards for depletion of producing properties. The Appeal was deemed unjustifiable, with no substantial legal questions identified for consideration. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305690