S. 115JC : Special provisions for payment of tax by certain persons other than a company-Housing project-Does not excludes its application in respect of housing projects approved under section 80IB(1) prior to its insertion-Appeal was dismissed.[S.80IB(1), 800IB(10)]
ACIT v. Vijay Tukaram Raundal (2022) 219 TTJ 641 /218 DTR 129 / (2023) 147 taxmann.com 53 (Pune)(Trib)
Digest of case laws
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This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 115JB : Book profit-Provision for bad and doubtful debts-Added back while computing book profit. [S.115HB(2)]
Piramal Enterprises v. Addl. CIT (2022) 216 TTJ 802 (Mum)(Trib) Editorial: CIT v. Tainwala Chemicals and Plastics India Ltd. [2013] 215 Taxman 153 (Bom.) (HC) distinguished.S. 115JB : Book profit-Bad and doubtful debts-Required to be added back.
Dy. CIT v. Piramal Enterprises Ltd. (2022) 216 TTJ 802 (Mum)(Trib)S. 115JB : Book profit-Shipping company-Profits derived by tonnage tax is excluded from book profits.[S. 115VO]
Dy. CIT v.Jagson International Ltd. (2022) 97 ITR 176 (Delhi) (Trib)S. 115JB : Book profit-Sick Industrial Company-Net worth of assessee-company turning positive in assessment year in question Not eligible for exclusion of profits from chargeability of book profits tax-Even though time-frame of rehabilitation scheme not completed [S. 115JB, Exppln.1(vii), Sick Industrial Companies (Special Provisions) Act, 1985, S. 3(1)(o)]
Supertex Industries Ltd. v. Dy. CIT (2022)99 ITR 33 (SN)(Mum) (Trib)S. 115JB : Book profit-Failure to issue notice-Computation is valid.
Karnataka State Beverages Corporation Ltd. v. ACIT (2022) 99 ITR 325 (Bang) (Trib)S. 115JB : Book profit-Adjustment of disallowance cannot be made while computing book profits. [S. 14A, R,8D]
Nahar Industrial Enterprises Ltd. v. Dy. CIT (2022) 99 ITR 562 (Chad) (Trib)S. 115JB : Book profit-Provision for gratuity relating to earlier years-Adjustment is not justified-Order of Assessing Officer affirmed. [S. 143(3)]
International Bakery Products Ltd. (2022) 217 TTJ 494 / 214 DTR 133 (Chennai)(Trib)S. 115JB : Book profit-Fringe benefit tax-Allowable as deduction. [S. 40(a)(ic)]
Capgemini Technology Services India Ltd. v. Dy. CIT (2022) 220 TTJ 409 (Pune) (Trib)S. 115JB : Book profit-Adjustment of disallowance under S.. 14A cannot be made while computing book profits.
ACIT v. J. K. Fenner (India) Ltd. (2022) 220 TTJ 595 (Chennai)(Trib)