https://www.taxtmi.com/caselaws?id=440658 The Tribunal dismissed the appeal and upheld the adjustment of capital loss on the sale of investments and cancellation of investments in the book profit computation under Section 115JB. It was held that capital profits should be excluded while computing book profits, and losses on the sale of investments cannot be reduced from book profits under Section 115JB. The Tribunal emphasized consistency in treating capital gains and losses similarly in book profit computation, confirming the lower authorities' decision and rejecting the grounds raised by the assessee. en-us Thu, 20 Jul 2023 00:00:00 +0530 Fri, 21 Jul 2023 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440658 The Tribunal dismissed the appeal and upheld the adjustment of capital loss on the sale of investments and cancellation of investments in the book profit computation under Section 115JB. It was held that capital profits should be excluded while computing book profits, and losses on the sale of investments cannot be reduced from book profits under Section 115JB. The Tribunal emphasized consistency in treating capital gains and losses similarly in book profit computation, confirming the lower authorities' decision and rejecting the grounds raised by the assessee. Case-Laws Income Tax Thu, 20 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440658