{"id":65246,"date":"2026-10-30T10:29:57","date_gmt":"2026-10-30T04:59:57","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pvp-corporate-parks-p-ltd-v-dy-cit-2026-310-taxman-456-madhc\/"},"modified":"2026-10-30T10:29:57","modified_gmt":"2026-10-30T04:59:57","slug":"pvp-corporate-parks-p-ltd-v-dy-cit-2026-310-taxman-456-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pvp-corporate-parks-p-ltd-v-dy-cit-2026-310-taxman-456-madhc\/","title":{"rendered":"PVP Corporate Parks (P.) Ltd. v. Dy. CIT (2026) 310 Taxman 456 (Mad)(HC)"},"content":{"rendered":"<p>Held that capital profit on sale of fixed assets of assessee company cannot be directly credited to Reserves &amp; Surplus and must be routed through Profit &amp; Loss Account for computing book profits under section 115JB. Therefore, reworking of profits under section 115JB and assessing tax on the ground that profit on sale of Fixed Assets credited to capital reserve by assessee was to be treated as normal profit for arriving at book profits under section 115JB was justified. (AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115JB : Book profit-Capital profit on sale of fixed assets of assessee company cannot be directly credited to Reserves &amp; Surplus and must be routed through Profit &amp; Loss Account for computing book profits-Reworking of profits under section 115JB and assessing tax on ground that profit on sale of Fixed Assets credited to capital reserve by assessee was to be treated as normal profit for arriving at book profits under section 115JB was justified.[S.260A] <\/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-65246","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gYm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65246","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=65246"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65246\/revisions"}],"predecessor-version":[{"id":65247,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65246\/revisions\/65247"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}