Author Topic: Special Bench matter on s. 115JA heard!  (Read 8374 times)

admin2

  • Global Moderator
  • Regular Member
  • *****
  • Posts: 9
    • View Profile
Special Bench matter on s. 115JA heard!
« on: January 03, 2007, 05:54:07 PM »
A Special Bench comprising of Hon’ble Members Dr. O.K. Narayanan, Shri G.C. Gupta and Shri Pramod Kumar has heard the following issue on 3rd Janaury 2007:

Questions :

Whether on facts and in law, the assessee, while computing book profits u/s 115JA of the Income tax Act, 1961, is entitled to reduce the net profit as per Profit & Loss A/c by –

The profits eligible for deduction u/s 80HHC actually computed under clause (a), (b) or (c) of sub-section (3) or sub-section 3A as the case may be;

OR
 
The profits eligible for deduction u/s 80HHC computed with reference to book profits (after adjustments) in the manner specified in sub-section (3) or sub-section (3A) of section  80HHC.” 

in the case of M/S SYNCOM FORMULATIONS (I) LTD.