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Debenture Redemption Reserve Not Book Profit Reserve Under Section 115JB: ITAT Ahmedabad
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AdvertisementSun Pharma Laboratories Ltd Vs DCIT (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad, disposed of the cross appeals filed by the assessee and the Revenue against the order of the Commissioner of Income-tax (Appeals) [CIT(A)] for Assessment Year 2017-18.
The assessee challenged the disallowance under Section 14A read with Rule 8D, while the Revenue challenged the relief granted by the CIT(A) in respect of deduction under Section 80-IE, amortization of intangibles under Section 115JB, and treatment of Debenture Redemption Reserve while computing book profit under Section 115J...