SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

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

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

capital gain for the purposes of assessment under section 115J. Both judgements are rendered in the context of Section 115J

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT ASSESSMENT CENTRE, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, AJMER, AJMER

capital gain for the purposes of assessment under section 115J. Both judgements are rendered in the context of Section 115J

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

capital gain for the purposes of assessment\nunder section 115J. Both judgements are rendered in the context of\nSection 115J

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -2, AJMER, AJMER

capital gains can be allowed while computing \nbook profit as per section 115JB of the Act. In that context, the \nHon’ble High court has held that section 115JB is a self contained \ncode of assessment and the levy of tax is on book profits after\neffecting various adjustments as set out in terms of explanation \nthereto. It was further

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

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

115J, the Tribunal held that the exempt income under s. 50 would remain exempted as per provisions of sub-s. (4) of s. 115JA and therefore, capital gain arising to an assessee under s. 50 on a depreciable asset is liable to be excluded from calculation of deemed profits under s. 115JA. Exemption/deduction allowed by one provision

PARIS ELYSEES INDIA PVT. LTD.,JAIPUR vs. DCIT, CIRCLE-7, JAIPUR

Bench: Him Against The Order Dated 05.12.2019 Passed Under Section 147/143(3) Of The Income Tax Act, [ For Short “Act” ] By Acit, Circle-07, Jaipur.

capital gain on sale of agricultural land in its profit/loss account and the same had been reduced while working out book profits under Section 115JB of the Act. Therefore, all primary facts had been duly disclosed by the Assessee Company and it was for the Assessing Officer to draw correct legal inference therefrom. Further, while alleging such failure

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

gain or loss as per the provisions of Income Tax Act (Le. after indexation) on such assets is to be considered while computing book profit u/s 115JB. The aforesaid claim has duly been made by the appellant in the notes forming part of computation of total income. [For Additional Ground No. 6] 8.0 Prayer 8.1 In view of the above