JAP INFO SYSTEMS PRIVATE LIMITED,JAIPUR vs. PCIT 2, JAIPUR

CORRIGENDUM The above mentioned appeal was decided vide order dated 26-09- 2022 but at page 28 in line 9 and 11 the word has inadvertently been typed as the ld. PCIT u/s 263 and quashed instead of ‘’AO’’ and ‘’sustained’’ which are rectified at page 28 in line 9 and 11 and it should now be read as under:-

‘’considered and therefore, the action of the assessee and thereby the ld. AO is in accordance with provision of the Act and there is no mistake apparent on record on account of exclusion of the same while computing the book profit under the provisions of section 115JB of the Act. These views are fortified by the Cochin Bench and in fact decisions relied upon by the ld. AR of the assessee. Being consistent with that order of the coordinate bench in in the case of ACIT Vs. M/s. The Nilgiri Tea Estate Limited, we hold that the order passed by the AO is neither erroneous and not prejudicial to the interest of the Revenue and therefore, the same is required to be sustained’’.

2.1 Except the above rectification, there is no change in the Tribunal order