Case Law Details
Case Name : PVR Pictures Ltd Vs DCIT (ITAT Delhi)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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PVR Pictures Ltd Vs DCIT (ITAT Delhi)
ITAT Delhi held that lower of unabsorbed depreciation and business loss deserved to be set off against the current year books profit in terms of provisions of clause (iii) of Explanation-1 to Section 115JB (2) of the Income Tax Act.
Facts- The assessee reiterated adjustment of carried forward business loss or unabsorbed depreciation whichever is lower, against ‘Book Profit’ for the purposes of Section 115JB of the Act. The CIT(A) o
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