“book profits”

Jt CIT(OSD) 2(3)(1), Mumbai vs. M/S Tata Realty and Infrastructure Ltd., Mumbai

advance given to IAL had neither been included in the taxable business income computed under the normal provision nor it was included in the book profit computed u/s 115JB of the Act. It was submitted by the assessee that due to financial difficulty IAL was not able to repay such ... justified in nullifying the action of the AO in making the addition of such accrued interest while working out the book profit u/s 115JB of the Act without considering that the Ld. AO had held in the order that the assessee's profit & loss account was not prepared in accordance

Excel Industries Ltd., Mumbai vs. The CIT -CC-6(3), Mumbai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaleexcel Industries Ltd Vs. The Cit-Cc 6(3) 184-87, Excel Estate, 19Th Floor, Air India Sv Road, Jogeshwari Bldg, Nariman Point, (West)Mumbai – 400102 Mumbai – 400 021. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaace2488F Appellant .. Respondent Appellant By : Mr.Kirit Kamdar. Ar Respondent By : Mr.Ajay Kumar. Dr Date Of Hearing 13.01.2022 Date Of Pronouncement 19.01.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Cit(A)-54, Mumbai Passed U/S 143(3) & 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal. 1. On The Facts & In The Circumstances Of The Case & In Law, The Cit(A) Erred In Confirming The Action Of The Ao In Disallowing A Sum Of Rs. 1,00,50,000/- Out Of Interest Paid Attributable To Loan To A Subsidiary. 2. On The Facts & In The Circumstances Of The Case & In Law, The Cit(A) Erred In Confirming The Action Of The Ao In Levying An Amount Of Rs. 5,42,910/- On Account Excel Industries Ltd, Mumbai. Of Interest U/S 115P For Dividend Distributed Under Section 115-O, For Which Dividend Distribution Tax Had Already Been Paid. 3. On The Facts & In The Circumstances Of The Case & In Law, The Cit(A) Erred In Not Adjudicating The Ground On Additions Made To Book Profits U/S 115Jb.

facts and in the circumstances of the case and in law, the CIT(A) erred in not adjudicating the ground on additions made to book profits u/s 115JB. 2. The Brief facts of the case are that, the assessee company is engaged in the business of manufacturing of chemicals, environmental ... filed the return of income for the A.Y 2016-17 on 17.10.2016 with a total income of Rs. 23,92,43,730/- and the Book profits computed u/s 115JB of the Act of Rs. 36,36,98,092/-.Subsequently, the case was selected for scrutiny and notice

ACIT, Circle - 16 (1), Mumbai vs. Bbc Worldwide Media Pvt. Ltd., Mumbai

In the result, both the appeals filed by the revenue are dismissed

Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadale & Dcit -16(1), Vs. M/S. Bbc World Wide Room No. 439, 4Th Media Pvt Ltd., Floor, Aayakar Bhavan, 401, 4Th Floor, Mk Road, Mumbai – Construction House A, 400 020. Off Linking Road, 24Th Road, Khar (West), Mumbai – 400052 Pan/Gir No. : Aadcb2307F Appellant .. Respondent

brought forward business loss and depreciation the total income was determined at Rs.2,37,20,670/- and the A.O. has calculated the Book profit u/s 115JB of the ITA No. 158 & 2770/Mum/2019 M/s BBC World Wide Media Pvt Ltd., Mumbai Act of Rs.4,62,27,485/- and passed the order ... allowed the grounds of appeal. Further the assessee has raised additional ground of appeal in respect of additions made, while calculating the Book Profits under the provisions of Sec. 115JB of the Act. Whereas, the waiver amount has been ITA No. 158 & 2770/Mum/2019 M/s BBC World Wide Media