Computation of book profit u/s 115JB
This query is : Resolved
15 March 2010
hello friends,
In case of computation of book profit we normally deduct
Unabsorbed Depreciation
or
B/f Losses
Which ever is less.
In case of my company we have unabsored depreciation and b/f losses of 2 years.
I want to know WHETHER THE CALCULATION WILL BE SEPARATE FOR EACH YEAR OR THEY WILL CONSOLIDATE CONSIDERED FOR CALCULATION OF BOOK PROFIT.
In case of computation of book profit we normally deduct
Unabsorbed Depreciation
or
B/f Losses
Which ever is less.
In case of my company we have unabsored depreciation and b/f losses of 2 years.
I want to know WHETHER THE CALCULATION WILL BE SEPARATE FOR EACH YEAR OR THEY WILL CONSOLIDATE CONSIDERED FOR CALCULATION OF BOOK PROFIT.
15 March 2010
Add up unabsorbed depreciation of all the years. Similarly add up unabsorbed business loss of all the years. Then find out least among the two sum.
15 March 2010
Citation that support my view:-
Aniline Textiles (p) Ltd Vs. ITO (2009) 27 SOT 152 (Mum-Tri).
Aniline Textiles (p) Ltd Vs. ITO (2009) 27 SOT 152 (Mum-Tri).
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