Held that the assessee’s income under the regular provisions of the Act is loss even after disallowing the claim of prior period expenditure while its income under the MAT regime is positive, the matter is covered by Circular No. 25 of 2015, dt 31st Dec, 2015. Order of CIT(A) deleting the addition was affirmed.(AY.2008-09)
Dy. CIT v. Madhya Pradesh Power Generating Co. Ltd. (2022) 217 TTJ 875 / 215 DTR 17 (Jabalpur)(Trib)
S. 271(1)(c) : Penalty-Concealment-Book profit-Prior period expenses-Loss as per regular assessment-Deletion of penalty is valid. [S. 115JB]