{"id":63322,"date":"2026-07-31T16:38:30","date_gmt":"2026-07-31T11:08:30","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-bodal-chemicals-ltd-2025-127-itr-194-177-taxmann-com-448-ahd-trib-4\/"},"modified":"2026-07-31T16:38:30","modified_gmt":"2026-07-31T11:08:30","slug":"dy-cit-v-bodal-chemicals-ltd-2025-127-itr-194-177-taxmann-com-448-ahd-trib-4","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-bodal-chemicals-ltd-2025-127-itr-194-177-taxmann-com-448-ahd-trib-4\/","title":{"rendered":"Dy. CIT v. Bodal Chemicals Ltd. (2025) 127 ITR 194 \/ 177 taxmann.com 448 (Ahd.)(Trib.)"},"content":{"rendered":"<p>The Assessing Officer treated the general reserve created on amalgamation as accumulated profits while computing book profit under section 115JB. The Tribunal held that the reserve did not represent accumulated profits and followed its earlier decision in the assessee&#8217;s own case directing the Assessing Officer to allow deduction of the lower of the brought-forward business loss or unabsorbed depreciation while computing book profit. The matter was restored to the Assessing Officer. The Tribunal upheld the directions of the Commissioner (Appeals) regarding computation of interest under sections 234B and 234C in accordance with the law laid down by the Supreme Court in <em>Rolta India Ltd.<\/em>, holding that the levy of interest was consequential and required recomputation by the Assessing Officer. (AY. 2006-07 to 2012-13).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115JB : Company-Book profit-Amalgamation-General reserve arising on amalgamation not equivalent to accumulated profits-Matter restored-Interest-Levy consequential. [S. 234B, 234C] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-63322","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gtk","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=63322"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63322\/revisions"}],"predecessor-version":[{"id":63323,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63322\/revisions\/63323"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}