AAR held that , the Provisions of S.115JB shall not be applicable to foreign companies , in terms of the retrospective amendment to S. 115JB by the Finance Act , 2016 and the clarification issued by the Board dated September 24 , 2015
“AB” Mauritius, In re (2018) 402 ITR 311/ 163 DTR 170 (AAR)
S. 115JB : Book profit – Provision is not applicable to foreign companies