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.

115J would be concluded exclusively on the basis of the book profits as adjusted by the items set out in the Explanation thereunder, in an assessment in terms of sections 115JA or JB, the adjusted book profits would be further subjected to the effect of other provisions of the Act that are specifically brought into play by virtue

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

115J would be concluded exclusively on the basis of the book profits as adjusted by the items set out in the Explanation thereunder, in an assessment in terms of sections 115JA or JB, the adjusted book profits would be further subjected to the effect of other provisions of the Act that are specifically brought into play by virtue

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

115J would be concluded exclusively on the\nbasis of the book profits as adjusted by the items set out in the\nExplanation thereunder, in an assessment in terms of sections 115JA\nor JB, the adjusted book profits would be further subjected to the effect\nof other provisions of the Act that are specifically brought into play by\nvirtue

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.

disallowed same under explanation to clause (vii) of section 36(1) - Whether, since assessee-company has debited provision made in respect of doubtful debts to profit and loss account and also reduced same amount in balance sheet from sundry debtors/trade receivable, such simultaneous reduction from sundry debtors amounted to actual write off of debt and hence same

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

disallowance \nmade by the ld. AO on account of claim of Education Cess of Rs. \n3,06,59,279/-.\n18. During the course of hearing the ld. AR of the assessee \nopenly admitted that the issue raised in ground no. 3 is already \ncovered against the assessee in it’s own case vide order of this \ndivision Bench of Jaipur

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)

disallowance of profit on sale of fixed assets of Rs. 11,63,403/- & profit on sale of investment of Rs. 4,13,50,483/- in computing book profit u/s 115JB. This issue is covered against the assessee by the decision of Hon’ble Tribunal in its own case vide order dated 23rd Dec. 2009 in ITA No. 942/JP/08. Respectfully following

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)

Section 115JB(2) includes ‘Health and Education Cess’ within its ambit & hence no further adjustment is required to be made to compute book profit u/s 115JB of the Act. Key submissions presented in support of the claim reads as follows: (i) As per clause (a) of Explanation 1 to Sec. 115JB, amount of income tax paid or payable is required