Section 115JB not applies to assessee governed by Special Acts & Rules

ITO Vs M/s. Atria Hydel Power Ltd. (ITAT Bengalore)

Conclusion: Provisions of section 115JB would not be applied to assessee-company where assessee was governed by different Acts and Rules, and was not required to prepare its profit & loss account and balance sheet as per Part II & III of Schedule VI to the Companies Act.

Held: Assessee was a company incorporated under the provisions of the Please become a Premium member. If you are already a Premium member, login here to access the full content.