2 results for “capital gains”+ Section 158clear
Sorted by relevance
In the result, the Revenue's appeal is dismissed as not maintainable
Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble
158 (SC)). Without prejudice, the tax has been paid on the basis of 'book-profit', deemed as income under the MAT provisions. The reassessment dated 21/3/2016, thus, had no tax impact inasmuch as the tax payable was only consequent to the deemed total income u/s. 115-JB. No penalty, even as explained in CIT v. Nalwa Sons Investment