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)
…i) of the Act in the lines as enunciated supra and is a capital receipt. At this juncture, we deem it expedient to reproduce Para–45 to 51 of the Co–ordinate Bench decision of the Tribunal rendered in the matter of DCIT v/s Century Plyboards Pvt. Ltd., [2021] 187 ITD 35 (Kol. Trib.) decided on 04/11/2020. “45 Now coming to the issue relating to treatment of these subsidies while computing book profit u/s 115JB. website that the Hon'ble Apex Court in the case of Apollo Tyres Ltd. v. CIT [2002] 122 Taxman 562/255 ITR 273 held that the AO has the power to rework the book profit if the profits are computed not in acc…
