DCIT v. Railtel Corporation of India Ltd. (2022) 195 ITD 665 (Delhi)(Trib.)

S. 115JB : Book profit-Capital loss debited to profit and loss account-Qualification by Auditor-Neither eligible for deduction under normal provisions nor under alternate provisions of taxation. [S. 28(i), 37(1)]

Held that the Assessee is not entitled to reduce book profit by capital loss debited to P&L account which was the subject matter of qualification by auditors as the such capital loss was neither eligible for deduction under normal provisions nor under alternate provisions of taxation. (AY. 2014-15)