Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI BENCH ‘G’, NEW DELHI
Before: Sh. C. M. GargDr. B. R. R. Kumar
ORDER
Per Dr. B. R. R. Kumar, Accountant Member:
The present appeal has been filed by assessee against the order of National Faceless Appeal Centre (NFAC), Delhi dated 31.08.2022.
The issue pertains to computation of profits u/s 115JB of the Income Tax Act, 1961 after considering the Form 29B as prescribed under Rule 40B of the Income Tax Rules, 1962.
At the outset, both the parties accepted that the matter can be remanded to the file of the Jurisdictional Assessing Officer (JAO) to consider the computation after giving due cognizance of Form 29B. Hence, the matter is being remanded to the file of the ld. CIT(A) for limited purpose of reconciliation and computation u/s 115JB.
Santoshi Hyvolt Electricals Pvt. Ltd. 4. In the result, the appeal of the assessee is allowed for statistical purpose. Order Pronounced in the Open Court on 10/07/2023.