PRINCIPAL COMMISSIONER OF INCOME TAX,BHUBANESWAR vs. INDUSTRIAL DEVELOPMENT CORPORATION OF ORISSA LTD.
In the result, the appeal stands disposed of in terms of
ITA/33/2017HC Orissa14 Nov 2022
Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN
Section 115Section 115JSection 14Section 14ASection 260Section 45(2)
45(2) which
requires investments are to be treated as Stock in
Trade?
7.
"Whether
on
the
facts
and
in
the
circumstances of the case, the Tribunal is right in
law in holding that addition to book profits under
Section 115 JB towards expenditure on exempt
income is purely academic in nature as the
Tribunal has held that no disallowances
