https://www.taxtmi.com/caselaws?id=59217 The appeal by the department was dismissed, with all issues decided in favor of the assessee. The Tribunal ruled in favor of the assessee regarding the deletion of addition to the closing stock value due to unutilized MODVAT credit, the exclusion of the amount withdrawn from the revaluation reserve from book profits, and the deduction of book profits attributable to exports under section 115J. The Tribunal emphasized that the computation of book profits should be based on book profits attributable to export business, even if the total income is nil, as per the provisions of section 115J. en-us Wed, 29 Jan 2003 00:00:00 +0530 Wed, 20 Jun 2012 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59217 The appeal by the department was dismissed, with all issues decided in favor of the assessee. The Tribunal ruled in favor of the assessee regarding the deletion of addition to the closing stock value due to unutilized MODVAT credit, the exclusion of the amount withdrawn from the revaluation reserve from book profits, and the deduction of book profits attributable to exports under section 115J. The Tribunal emphasized that the computation of book profits should be based on book profits attributable to export business, even if the total income is nil, as per the provisions of section 115J. Case-Laws Income Tax Wed, 29 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59217