ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

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

199 ITR 164), while dealing with the computation of book profit under section 115J of the Act held that a particular receipt, which is admittedly not an income, cannot be brought to tax under the deeming provisions of section 115J of the Act, as it defines the basic intention behind introduction of the provisions of section 115J

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR