Dismissing the appeal of the revenue, the provision is not applicable to banking companies. Followed CIT v. ING Vyas Bank Ltd (2020) 186 DTR 193 (Karn)(HC) (AY. 2000-01)
CIT v. Syndicate Bank (2020) 186 DTR 200 / 313 CTR 576 (Karn.) (HC)
S. 115JA : Book profit–Banking company–Provision is not applicable.