Calculation of book profit u/s.115JB of the Income Tax Act

Last updated: 10 August 2021

Save Share

Quick Summary

This Income Tax Appellate Tribunal ruling concerns the calculation of book profit under Section 115JB for Go Airlines (India) Ltd. for the assessment year 2015-16. The assessee argued that unabsorbed depreciation should be adjusted, a point previously decided in their favour by a co-ordinate bench. The Tribunal agreed, setting aside the CIT(A)'s order and directing the AO to allow the deduction and recompute the book profit accordingly.

Court :
ITAT Mumbai

Brief :
The present appeal has been preferred by the assesseevagainst the order dated 26.09.2019 of the Commissioner ofvIncome Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2015-16.

Citation :
ITA No.7517/M/2019

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Judgements Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

Attached File : 1442821_4120_1628071471_go_airlines_7517.pdf

downloaded 230 times

233 Views Comment Share Income Tax Report

Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

View Judgements

Comments