2013 (12) TMI 1698

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....R B.R. Mittal, J. This appeal is filed by assessee against the order of Commissioner of Income Tax dated 5.3.2012 vide which the ld. CIT set aside the order passed by assessing officer dated 27.11.2009 with a direction to compute the income u/s 115JB of the Income Tax Act, 1961(the Act). 2. At the time of hearing, our attention was drawn to the fact that the assessee is a Banking Company ....

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....ve held after considering the decision of Hon'ble Jurisdictional High Court in the case of Kurung Thai Bank PCL in ITA No.3390/M/1990 dated 30.9.2010 that provisions of section 115JB are not applicable to the assessee-banking-company and therefore assessee's case is not covered by MAT provisions. In the said case, the order passed by Commissioner of Income Tax u/s 263 of the Act was quashed. Respe....