Dismissing the appeal of the Revenue the Court held that provisions of section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to an electricity generating company. (AY. 2003-04)
PCIT v. Ajmer Vidyut Vitran Nigam Ltd. (2022) 140 taxmann.com 660 (Raj.)(HC) Editorial : Notice issued in SLP filed by Revenue, PCIT v. Ajmer Vidyut Vitran Nigam Ltd(2022) 288 Taxman 485 (SC)/)/ SLP dismissed PCIT v. Ajmer Vidyut Vitran Nigam Ltd ( 2023) 290 Taxman 5 (SC)
S. 115JB : Book profit-Minimum alternate tax-Electricity companies-Provisions of section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to an electricity generating company.