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For section115JA/JB Deduction U/s. 80HHC to be computed with reference to the net profits in the profit and loss account – SC
Case Law Details
- Case Name
- Al-Kabeer Exports Ltd Vs. CIT (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Al-Kabeer Exports Ltd Vs. CIT (Supreme Court)- Reversing the High Court Decision and restoring the Tribunal Special bench Decision. It was held that in view of SC Court’s Order in the case of Commissioner of Income-Tax vs. Bhari Information Technology Systems (P) Ltd. [S.L.P. (C) No.33750 of 2009] Tribunal was justified in coming to the conclusion that the amount to be reduced under clause (iv) of Explanation 1 to Section 115JB in respect of the profits eligible for deduction under Section 80HHC has to be computed with reference to the net profits in the profit and loss account and n...
