2017 (8) TMI 32

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....peal pertains to Assessment year 2004-05. The learned counsel for the Appellant submits that Tribunal was not justified in not accepting the reworking of the book profits by the Assessing Officer as per the provisions of Section 115JB of the Income Tax Act. The Assessee had directly credited the profit of Rs. 2,84,84,000/arising from sale of land to Capital Reserve Account in the balance sheet rat....