In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
depreciation as is adopted while preparing its accounts that are laid before the company at its annual general meeting in accordance with provisions of Sec.210 of the Companies Act. Explanation below sec.115JB of the Act provides that for the purposes of section 115JB of the Act, "book profit" means the net profit as shown in the profit and loss account