Non-inclusion of Surrendered Income Book Profits u/s 115JB of Income Tax Act Not Rectifiable u/s 154 of Income Tax Act: ITAT [Read Order]

By Fathima Karama A.M - On April 5, 2023 6:00 pm - 2 mins read
Surrendered Income - Income - Book Profits - Profits - Income Tax Act - Income Tax - ITAT - Taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-inclusion of surrendered income book profits under Section 115JB of the Income Tax Act 1961 is not rectifiable under Section 154 of the Act. A rectification was made by the AO to the book profits of the assessee, SETCO Automotive…

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