https://www.taxtmi.com/caselaws?id=312175 ITAT Mumbai dismissed Revenue's appeal on two issues. First, regarding MAT computation under section 115JB, the Tribunal upheld CIT(A)'s decision allowing deduction of Debenture Redemption Reserve from book profits, following precedent in JSW Energy case and assessee's own prior case. Second, on addition under section 68 for unexplained cash credit, the Tribunal affirmed CIT(A)'s deletion of Rs.25 lakhs addition after remand proceedings established loan genuineness through section 133(6) notices and replies, noting the same loan was accepted in earlier reassessment proceedings for 2010-11. en-us Fri, 31 May 2019 00:00:00 +0530 Tue, 06 Feb 2024 08:19:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312175 ITAT Mumbai dismissed Revenue's appeal on two issues. First, regarding MAT computation under section 115JB, the Tribunal upheld CIT(A)'s decision allowing deduction of Debenture Redemption Reserve from book profits, following precedent in JSW Energy case and assessee's own prior case. Second, on addition under section 68 for unexplained cash credit, the Tribunal affirmed CIT(A)'s deletion of Rs.25 lakhs addition after remand proceedings established loan genuineness through section 133(6) notices and replies, noting the same loan was accepted in earlier reassessment proceedings for 2010-11. Case-Laws Income Tax Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312175