2025 (9) TMI 18

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.... 1. This revenue appeal has been preferred against the impugned order dated 15.02.2024 passed in Appeal no. CIT(A) 5, Mumbai-10033/2018-19 by the Ld. Commissioner of Income-tax (Appeals)/ National Faceless Appeal Centre (NFAC) [hereinafter referred to as the "CIT(A)"] u/s. 250 of the Income-Tax Act, 1961 [hereinafter referred to as "Act"] for the Assessment year [A.Y.] 2006-07, wherein learned CIT....

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....sentative for the assessee has submitted that the provisions u/s. 115JB of the Act cannot be made applicable to the assessee banking company. Learned AR has further submitted that the matter is covered by the order dated 23.12.2016 passed by this Tribunal in assessee's own case in ITA No. 3789/MUM/2013 for A.Y. 2008-09 and three ors. The relevant paras 8 and 8.1 are reproduced as under: "8. We h....

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....ly come into play when the assessee was required to prepare its profit and loss account in accordance with the provisions of part II and III of Schedule VI to the Companies Act and starting point of computation of minimum alternate tax (MAT) u/s. 115JB is the result shown by such profit and loss account. It was held that in the case of baking companies, the provisions of Schedule VI to the compani....

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....se does not arise at all. The addition made by the AO and confirmed by Id CIT(Appeals) on account of provision for doubtful debts while computing the book profit u/s 115JB, therefore, is deleted." 8.1 Respectfully following the aforesaid decision of this Tribunal, we hold that the provision of section 115JB cannot be made applicable to the case of the assessee. Thus, ground No. 2 stands allowed.....