Entire capital gains have to be included without computing benefits of indexation while computing 'book profits'

Suraj R. Agrawal Dharmayug Investments Ltd vs. ACIT (ITAT Mumbai) While computing the “book profits” as per S. 115JB the entire capital gains have to be included without computing the benefits of indexation. Facts of the case: The assessee company is engaged in the business of investments, leasing and broking business. The return of income was filed on 29.09.2009 declaring total income of Rs.24,10,290/- under the normal provisions of the Act. Since the tax liability as per the provisions of section 115JB was higher, therefore, taxes were paid as per book profit computed u/s. 115JB...