2013 (10) TMI 881

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent : Ms. Suruchi Aggarwal, Sr. Standing Counsel. ORDER Sanjiv Khanna, J. (Oral): This appeal by the assessee under Section 260A of the Income Tax Act, 1961 (Act, for short), relates to Assessment Year 2005-06 and arises out of order of the tribunal dated 23rd March, 2012. 2. By order dated 10th July, 2013, the following substantial question of law was framed:- "Whether the order of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ee had specifically under "donation" mentioned this amount. However, the Assessing Officer computed the income on book profits under Section 115JB after noticing that the assessee had earned profit of Rs.14,47,91,067/- in the said assessment year. No adjustment towards book profits was made, except on account of provision for wealth tax and excess depreciation charged on electrical fittings. Accor....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... that donation of Rs.50,98,500/- was given to charitable organisations and deduction under Section 80G of the Act was assessable. This amount was shown as an expense under the head "administrative expenses" in the profit and loss account and the relevant schedule of the balance sheet. It was stated that by mistake, the appeallant-assessee inadvertently had failed to add back or disallow Rs.50,98,5....