Assessing Officer's Order u/s 154 Invalid; Deductions for Sick Industrial Company's Losses Upheld u/s 115JB.

Minimum Alternate Tax (MAT) - Adjustment to book profit u/s 115JB - Adjustment of loss to sick industrial company - A.O. on long drawn process of reasoning should not have passed the order under Section 154 of the Act - whatever amount was reduced from the profit of business on account of loss to sick industrial company were in accordance with law. - AT .....

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