Case Law Details
Case Name : C.I.T Vs M/S Nalwa Sons Investment Ltd. (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
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In the present case, the income computed as per the normal procedure was less than the income determined by legal fiction namely book profits under Section 115JB of the Act. On the basis of normal provision, the income was assessed in the negative i.e. at a loss of Rs. 369521018. On the other hand, assessment under Section 115 JB of the Act resulted in calculation of profits at Rs. 40163180.
In view thereof, in conclusion, the assessment order records as follows:-
“Assesse
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