Transfer to special reserve U/s. 45-IC of RBI Act is a part of book profit U/s. 115JB

Brief Facts of the Case and Question of Law Brief Facts For Assessment year 2006-07 the Tribunal while computing book profit under Section 115JB confirmed the addition of Rs. 9,80,00,000/- transferred to the special reserve pursuant to the provisions of Section 45-IC of the Reserve Bank of India Act, 1934 under Clause (b) of the Explanation to Section 115JB. And for the Assessment year 2007-08 Tribunal,while computing book profit under Section 115JB confirmed the additions of :- (a) Rs. 16,00,00,000/- transferred to the special reserve pursuant to the provisions of Section 45-IC of the Rese...