Agricultural Land Income Exempted from Tax cannot be Added to Book profits u/s 115 JB of Income Tax Act: Delhi HC dismisses Appeal [Read Order]

When the income of agricultural land was exempt from tax, then the said exempt income cannot be added to the books profit while calculating the under Section 115JB of the Income Tax Act.
By Aiswarya Krishnadas - On July 29, 2024 11:11 am - 2 mins read
Income Tax Act - Income Tax - 115 JB of Income Tax Act - Delhi HC - Delhi High Court - taxscan

In a recent ruling, the Delhi High Court dismissed an appeal, stating that income from agricultural land, which is exempt from tax, cannot be included in the book profits when calculating under Section 115JB of the Income Tax Act, 1961. The bench consisting of Justice Yaswanth Varma and Justice Ravinder Dudeja found that, firstly neither…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
Ā  ā‚¹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader