TaxTMI 
TaxTMI 
2018 (11) TMI 599
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....STICE AKIL KURESHI) 1. Petitioner has challenged a notice dated 13.02.2018 issued by the respondent-Assessing Officer seeking to rectify an order dated 12.12.2017 passed by him for giving effect to the judgement of the Income Tax Appellate Tribunal dated 27.09.2017 in case of the assessee. 2. Brief facts are as under: Petitioner-assessee is a company registered under the Companies Act. With res....
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....ras in the case of Metal & Chromium Plater (P) Ltd. in TCA No. 359 of 2008 76 taxmann.com 229 wherein the Hon'ble Madras High Court has held as under: "The allowance or otherwise of the claim under section 54EC has to be seen in the context of the provisions of section 115JB which is a self contained code of assessment. The levy of tax is on the book profits after affecting various upward an....
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.... provisions of the Act that are specifically brought into play by virtue of sub section (4) of section 115JA and (5) of section 115JB. In view of aforesaid, the impugned order of Tribunal did not require any interference. 20. In the light of the above decision of the Hon'ble Madras High Court, we direct the A.O. to decide the issue afresh in the light of the above." 3. At one stage, the A....
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....f the Act, in contravention to the law for determining book profit. Thus, the book profit has been arrived at Rs. 1,72,59,150/- which is less than Rs. 2,72,59,149/- declared in your return of income. The mistake being apparent from records, I intend to carry out the required rectification of the impugned order." 5. The present issue is very simple and does not require any elaborate discussion. Un....