Disallowance U/s. 14A is to Be Made For Computing Book Profits U/s. 115JB

CIT vs. Goetze (India) Ltd (Delhi High Court)-32 SOT 101 (Del) These appeals by the Revenue relates to Assessment Year 2001-02. The respondent-assessee, as noticed above, namely, Federal-Mogul Goetze (India) Limited, had filed return of income on 31st October, 2001 declaring „nil‟income after setting for brought forward losses and depreciation. Tax payable under Section 115JB was also computed at „nil‟. The return was taken up for scrutiny assessment and assessment order under Section 143(3) dated 29th March, 2004 was passed. Total income under the normal provisions in spite of various...