Lower of book loss or unabsorbed depreciation to be set off against book profits as per section 115JB

Sungroup Enterprises (P) Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that as per the MAT provisions of section 115JB of the Income Tax Act the lower of book losses or unabsorbed depreciation can be set off against book profits. Accordingly, order of CIT(A) upheld and appeal of assessee dismissed. Facts- The assessee is engaged in the business of providing investment advisory/management consultancy services to its clients. The case was selected for scrutiny and assessment u/s. 147 of the Income-tax Act, 1961 read with section 143(3) was completed by the AO on 30.12.2017 assessing the deemed tota...