Dismissing the appeal of the revenue the Court held that the Tribunal was justified in admitting the additional ground and also holding that the section 115JB was not applicable to the assessee in view of Explanation 3 to section 115JB of the Act . ( AY. 2006 -07 )
CIT v. Karnataka Power Corporation Ltd. (No. 2) (2021)436 ITR 292 / 281 Taxman 600 (Karn) ( HC)
S. 115JB : Book profit – Power generating company –Additional ground – Provision is not applicable .[ S. 254(1) ]