https://www.taxtmi.com/caselaws?id=311335 The Tribunal upheld the order of the ld. CIT(Appeals), determining that section 115JB was not applicable to the assessee corporation, as it was a statutory entity not registered under the Companies Act, 1956. The Tribunal referenced its previous decision in the assessee's case for earlier years and noted that the amendment to section 115JB by the Finance Act, 2012, applied only from the assessment year 2013-14 onwards. Consequently, the Tribunal dismissed the Revenue's appeal, affirming that the assessee's total income should not be assessed under section 115JB. en-us Wed, 20 Dec 2017 00:00:00 +0530 Thu, 21 Dec 2023 06:03:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311335 The Tribunal upheld the order of the ld. CIT(Appeals), determining that section 115JB was not applicable to the assessee corporation, as it was a statutory entity not registered under the Companies Act, 1956. The Tribunal referenced its previous decision in the assessee's case for earlier years and noted that the amendment to section 115JB by the Finance Act, 2012, applied only from the assessment year 2013-14 onwards. Consequently, the Tribunal dismissed the Revenue's appeal, affirming that the assessee's total income should not be assessed under section 115JB. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311335