Dismissing the appeal of the revenue the Court held that , Tribunal was right in holding that section 115JB was not applicable to the assessee . Followed ITA No 18 /2014 dt 16 -1 -2020 .
CIT v. Karnatka Power Corporation ( 2021 ) 127 taxmann.com 282 ( Karn) (HC) Editorial : SLP granted to the revenue , CIT v. Karnatka Power Corporation ( 2021 ) 280 Taxman 1 / 127 taxmann.com 283 ( SC)
S. 115JB : Book profit – Provision is held to be not applicable .[ S.260A ]