M/S. KARNATAKA POWER CORPORATION LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 11(5), BANGALORE
In the result, both the appeals of the revenue and the assessee are dismissed
ITA 26/BANG/2020[2010-11]Status: DisposedITAT Bangalore02 Mar 2022AY 2010-11
Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2010-11
For Appellant: Shri Narendra Sharma, A.RFor Respondent: Shri Sumer Singh Meena, D.R
Section 115JSection 80I
Companies Act, 1956 has excluded insurance, banking companies or the companies engaged in the generation or supply of electricity from the purview of Section 211(1) of the Companies Act, 1956 and resultantly from the purview of Section 115JB of the Act.
11. Admittedly, the provisions of Section 115JB