CIT can’t direct AO to add items to compute book profit for MAT without giving a reference of empowering provision

INCOME TAX : Commissioner was not justified in revising order and directing Assessing Officer to add decommissioning levy, interest on decommissioning fund, interest on R amp; M fund and interest on R amp; D fund to profit as per profit and loss account to arrive at book profit under section 115JB, particularly when in order passed by Commissioner, there was no mention as to under which category of Explanations (A) to (K) of section 115JB(2) these four items would fallINCOME TAX : Commissioner was not justified in revising order and directing Assessing Officer to add decommissioning levy, interest on decommissioning fund, interest on R amp; M fund and interest on R amp; D fund to profit as per profit and loss account to arrive at book profit under section 115JB, particularly when in order passed by Commissioner, there was no mention as to under which category of Explanations (A) to (K) of section 115JB(2) these four items would fallwww.taxmann.com Latest Case LawsRead More

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