2018 (7) TMI 2380

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....thi i/b. Mr. Raj Darak,for the Respondent. P.C:­ This Appeal under Section 260­A of the Income Tax Act, 1961 (the Act), challenges the order dated 11th March, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 11th March, 2015 is in respect of Assessment Year 2009­10. 2 Mr. Suresh Kumar, learned Counsel appearing for the Revenue urges onl....

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....of the case and in law, the Tribunal was justified in law in deleting the addition of Rs.161,86,77,034/­ to the book profit under Section 115JB of the Act without appreciating the fact that such receipt will have to be taken as income and credited to the P & L Account as per clause 2(b) and clause 3(xii)(b) of Part II of Schedule VI of the Companies Act?" 3 Re. Question (c):­ (i) Mr.....