Tribunal held that exempt income which is credited to the profit and loss account must be calculated by by reducing amount of income to which section 10 applies, if such amount is credited to profit and loss account. (AY.2009 10)
ITO v. Buniyad Developers (P.) Ltd. (2020) 185 ITD 854 (Delhi) (Trib.)
S. 115JB : Book profit-Exempt income-Credited to the profit and loss account-Reduced while computing book profit [S.10]