Capital gains exempt u/s 54EC could be reckoned for book profit u/s 115JA

Fibroflex (India) Pvt. Ltd. Vs DCIT (ITAT Chennai)

In the given case the issue under consideration is that whether capital gains, which were exempt under section 54EC could be reckoned for purpose of computing book profit under section 115JA.

The adjusted book profits would be further eligible to the benefits set out in the other provisions of the Act and the plain language of Please become a Premium member. If you are already a Premium member, login here to access the full content.