115JB of the Act. Similarly, in ACIT v. JSW Steel Ltd.

180 ITD 505Income Tax Appellate Tribunal2020#7717 most cited

What is 115JB of the Act. Similarly, in ACIT v. JSW Steel Ltd. authority for?

Receipts that are exempt from tax under the Income Tax Law cannot be included when computing book profits under Section 115JB of the Act.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2023 to 2025.

Also referred to as

ACIT vs JSW Steel Ltd · 180 ITD 505 · 2020 · Section 115JB · MAT · Book Profit · Exempt Income · Sales Tax Subsidy · Non-taxable receipt

Sections most often in play

Section 115JBSection 143(3)Section 144BSection 144C(3)Section 201(1A)Section 234CSection 32(1)(ii)Section 37(1)

Issues it is cited on

safe harbour rulessection 72asection 32(2)preliminary expensessafe harboursection 54esection 43aactual payment basissection 43(6)section 2(24)(xviii)section 115jb(2)profit split method

Judgments citing 115JB of the Act. Similarly, in ACIT v. JSW Steel Ltd.

Shree Cement Limited, Bangur Nagar vs. ACIT, Central Circle, Ajmer

In the result, the appeal of the assessee - appellant in ITA No

ITA 1517/JPR/2024[2019-2020]Status: DisposedITAT Jaipur24 Jun 2025AY 2019-2020

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Shri Dilip B. Desai, FCAFor Respondent: Shri Arvind Kumar, CIT-DR
Section 115JSection 143(1)Section 254Section 36(1)(va)Section 80Section 801A

…rm cannot be subject to tax in the hands of the partner. Thus, once the receipt is not taxable then the same cannot be made subject to tax under the provisions of MAT while computing book profit u/s 115JB of the Act. Similarly, in ACIT vs JSW Steel Ltd (2020) 180 ITD 505 (Mum), while dealing with the issue of taxability of sales tax subsidy has held that when a particular receipt is exempt from tax under the Income Tax Law, then the same cannot be considered for computing Book Profit u/s 115JB of the Act. In the appellant’s own case the above issue has been decided by the Hon’ble jurisdictional Rajasthan High Cou…

Economic Explosives Limited, Nagpur vs. National E Assessment Centre, New Delhi

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…essment year 2016-17 has prospective effect and has no effect on the law on the subject applicable to the assessment years in question.” (underlined, bold and italics for emphasis) The Mumbai Tribunal, being jurisdictional Tribunal in ACIT Vs. JSW Steel Ltd. (180 ITD 505), while dealing with the question as to whether when a particular receipt is exempt from tax under the Act then the same cannot be considered for the purposes of computation of book profit under section 115JB of the Act held that such receipt shall be excluded while computing the book profit. The facts of this case were as under: The brief facts…

Economic Explosives Limited, Nagpur vs. Assistant Commissioner of Income Tax, Central Circle 1 (2), Nagpur

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…essment year 2016-17 has prospective effect and has no effect on the law on the subject applicable to the assessment years in question.” (underlined, bold and italics for emphasis) The Mumbai Tribunal, being jurisdictional Tribunal in ACIT Vs. JSW Steel Ltd. (180 ITD 505), while dealing with the question as to whether when a particular receipt is exempt from tax under the Act then the same cannot be considered for the purposes of computation of book profit under section 115JB of the Act held that such receipt shall be excluded while computing the book profit. The facts of this case were as under: The brief facts…

Shree Cement Limited, Beawar vs. National Faceless Assessment Centre, Delhi

In the result, the appeal of the Revenue in ITA No

ITA 500/JPR/2023[215-16]Status: DisposedITAT Jaipur21 Feb 2024

Bench: or at the time of hearing of this appeal.

For Appellant: Sh. Dilip B Desai(C.A.)For Respondent: Sh. Alka Gautam (CIT) (V.H) &
Section 115JSection 143Section 143(3)Section 144BSection 144B(1)(xvi)Section 80Section 80I

…the hands of the partner. Thus, once the receipt is not taxable then the same ACIT vs. Shree Cement Ltd. cannot be made subject to tax under the provisions of MAT while computing book profit u/s 115JB of the Act. Similarly, in ACIT vs JSW Steel Ltd (2020) 180 ITD 505 (Mum), while dealing with the issue of taxability of sales tax subsidy has held that when a particular receipt is exempt from tax under the Income Tax Law, then the same cannot be considered for computing Book Profit u/s 115JB of the Act. In the appellant’s own case the above issue has been decided by the Hon’ble jurisdictional Rajasthan High Co…

Shree Cement Limited, Beawar vs. National Faceless Assessment Centre, Deputy Commissionerof Income Tax, Circle -2, Ajmer

In the result, the appeal of the Revenue in ITA No

ITA 496/JPR/2023[2016-17]Status: DisposedITAT Jaipur21 Feb 2024AY 2016-17

Bench: or at the time of hearing of this appeal.

For Appellant: Sh. Dilip B Desai(C.A.)For Respondent: Sh. Alka Gautam (CIT) (V.H) &
Section 115JSection 143Section 143(3)Section 144BSection 144B(1)(xvi)Section 80Section 80I

…the hands of the partner. Thus, once the receipt is not taxable then the same ACIT vs. Shree Cement Ltd. cannot be made subject to tax under the provisions of MAT while computing book profit u/s 115JB of the Act. Similarly, in ACIT vs JSW Steel Ltd (2020) 180 ITD 505 (Mum), while dealing with the issue of taxability of sales tax subsidy has held that when a particular receipt is exempt from tax under the Income Tax Law, then the same cannot be considered for computing Book Profit u/s 115JB of the Act. In the appellant’s own case the above issue has been decided by the Hon’ble jurisdictional Rajasthan High Co…

Shree Cement Limited, Beawar vs. Deputy Commissioner of Income Tax, Ajmer

In the result, this appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

ITA 152/JPR/2023[2014-15]Status: DisposedITAT Jaipur07 Aug 2023AY 2014-15

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Shah, CAFor Respondent: Shri Arvind Kumar, CIT
Section 115JSection 250Section 32(1)(ii)Section 80Section 80I

…me cannot be made subject to tax under the provisions of MAT while calculating the profit under section 115JB of the Act. In view of the above, we do not find any reason to uphold the finding of the learned CIT –A”. In case of ACIT –vs.- JSW Steel Ltd (2020) 180 ITD 505 (Mum), while dealing with the issue of taxability of sales tax subsidy, Hon’ble Mumbai Tribunal held the following – “50. In this view of the matter and considering the ratio of case laws discussed hereinabove, we are of the considered view that when a particular receipt is exempt from tax under the Income tax law, then the same cannot be consid…

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5459/MUM/2017[2009-10]Status: DisposedITAT Mumbai30 Jun 2023AY 2009-10
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5458/MUM/2017[2011-12]Status: DisposedITAT Mumbai30 Jun 2023AY 2011-12
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

Jsw Steels Ltd, Mumbai vs. DCIT CC 8(3), Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5457/MUM/2017[2010-11]Status: DisposedITAT Mumbai30 Jun 2023AY 2010-11
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

DCIT CC 8(3)(Erstwhile DCIT, CC-46, Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5327/MUM/2017[2011-12]Status: DisposedITAT Mumbai30 Jun 2023AY 2011-12
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

DCIT CC 8(3)(Erstwhile DCIT, CC-46, Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5326/MUM/2017[2010-11]Status: DisposedITAT Mumbai30 Jun 2023AY 2010-11
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

DCIT CC 8(3), Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 5325/MUM/2017[2009-10]Status: DisposedITAT Mumbai30 Jun 2023AY 2009-10
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

DCIT CC 8(3), Mumbai vs. Jsw Steels Ltd, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 4632/MUM/2017[2008-09]Status: DisposedITAT Mumbai30 Jun 2023AY 2008-09
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

Jsw Steel Limited, Mumbai vs. ACIT, CC-46, Mumbai

Appeal of the revenue is partly allowed and appeal of the assessee is dismissed

ITA 4287/MUM/2017[2008-09]Status: DisposedITAT Mumbai30 Jun 2023AY 2008-09
Section 14A

…n. 6.2.3. We have heard both the parties, perused the material available on record and gone through orders of the authorities below. We find that the coordinate bench M/s. JSW Steels Ltd. of ITAT Mumbai Tribunal in assessee's own case for AY 2006-07 in [2020] 180 ITD 505 (Mumbai - Trib.) had considered an identical issue and held that sales tax subsidy received by the assessee is capital in nature. The relevant findings of the Tribunal are as under: “31. In this case, on perusal of facts, it is abundantly clear that the assessee has setup a new industry under the Industrial policy, 1993 of Government of Karnataka…

115JB of the Act. Similarly, in ACIT v. JSW Steel Ltd. (180 ITD 505) — Cited in 14 Judgments | BharatTax