Home › Income-Tax Act › CIT, LTU v. Vijay Bank (2021) 130 taxmann.com 148 (Karn.)(HC) Editorial : SLP was granted to revenue, CIT, LTU v. Vijay Bank (2021) 282 Taxman 296 (SC)

CIT, LTU v. Vijay Bank (2021) 130 taxmann.com 148 (Karn.)(HC) Editorial : SLP was granted to revenue, CIT, LTU v. Vijay Bank (2021) 282 Taxman 296 (SC)

S. 115JB : Book profit-Banking companies-Accounts drawn in conformity with Banking Regulation Act, 1939-Not liable for minimum alternative tax.

Dismissing the appeal of the revenue the Court held that Accounts drawn in conformity with Banking Regulation Act, 1939 is not liable for minimum alternative tax. (AY.2006-07)