https://www.taxtmi.com/caselaws?id=781678 A sick company's relief under section 115JB does not continue automatically once its net worth becomes positive and it is discharged from SICA/BIFR. Where the rehabilitation scheme and BIFR order only required the department to "consider" exemption for specified income-tax provisions, they did not create a binding mandate to grant exemption. The statutory exclusion for sick industrial companies was also limited to the period up to the assessment year in which net worth becomes equal to or exceeds accumulated losses. The MAT computation was therefore upheld and the assessee's claim failed. en-us Wed, 22 Oct 2025 00:00:00 +0530 Wed, 19 Nov 2025 08:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781678 A sick company's relief under section 115JB does not continue automatically once its net worth becomes positive and it is discharged from SICA/BIFR. Where the rehabilitation scheme and BIFR order only required the department to "consider" exemption for specified income-tax provisions, they did not create a binding mandate to grant exemption. The statutory exclusion for sick industrial companies was also limited to the period up to the assessment year in which net worth becomes equal to or exceeds accumulated losses. The MAT computation was therefore upheld and the assessee's claim failed. Case-Laws Income Tax Wed, 22 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781678