Receipt not in the Nature of Income cannot be included in Book Profit for Computation u/s 115JB, Interest in Power subsidy has to be excluded: ITAT

By Taxscan Team - On November 28, 2022 4:05 pm - 2 mins read
Receipt - not - in - the - Nature - of - Income - Book - Profit - for - Computation - Power - subsidy - ITAT - TAXSCAN

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the receipt not like income cannot be included in book profit for computation u/s 115JB of the Income Tax Act,1961 and the interest in power subsidy has to be excluded. Sh. Ved Jain, Adv. &MsSupriya, CA appeared for the assessee and Sh….

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.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader