Section 115JB was not applicable to the assessee in view of Explanation 3 to section 115JB. Followed CIT v. ING Vysaya Bank Ltd. (2020) 422 ITR 116 (Karn.)(HC). (AY. 2007-08)
CIT v. Karnataka Power Corporation Ltd. (No. 1) (2021)436 ITR 285 (Karn.)(HC)
S. 115JB : Book profit-Amendment in Law-Explanation 3-Not Applicable.