Whether capital gain arising out of the sale of land and building is liable to be included for computation of book profits under Section 115J?

Kumudam Printers Pvt Ltd Vs CIT (Madras High Court)– Whether capital gain arising out of the sale of land and building is liable to be included for computation of book profits under Section 115J – Whether when there is no failure on part of the appellant to disclose any material fact at the time of the original assessment and hence, the reopening of the assessment pursuant to a notice under Section 148 issued after the expiry of four years from the end of the relevant assessment year is liable to be annulled. – Assessee `s appeal allowed.

M/s.Kumudam Printers (P) Ltd.  Versus The Commissioner of Income Tax

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 22.03.2011

Tax Case (Appeal) No. 826 of 2004

Please become a Premium member. If you are already a Premium member, login here to access the full content.