ITAT Orders Reassessment for MEIS License Exclusion under Section 115JB

Aamor Inox Ltd Vs DCIT (ITAT Delhi) Introduction: The case of Aamor Inox Ltd vs. DCIT, as heard by ITAT Delhi, revolves around the treatment of MEIS (Merchandise Exports from India Scheme) Licenses under the Income Tax Act. 1. Background: Aamor Inox Ltd, a company engaged in steel manufacturing, filed its income tax return for the Assessment Year 2018-19, declaring a loss under regular provisions of the Income Tax Act and book profit under Section 115JB of the Act. 2. Receipt of MEIS Incentives: During the assessment year, the company received MEIS incentives amounting to Rs. 2,15,96,571/-. Th...