2016 (8) TMI 767

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..... ITH MRS SWATI SOPARKAR, ADVOCATE JUDGMENT ( Per : Honourable Mr. Justice KS Jhaveri ) By way of these appeals under section 260A of the Income-tax Act, 1961, the appellant-revenue has challenged the order of the Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal") whereby the Tribunal has dismissed the appeal of the revenue by confirming the order of the Commissioner of Inc .....

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..... rest charged under section 234B on the ground that computation of income under section 115J was not liable to payment of advance tax? 3. The learned counsel for the appellant has contended that the issue regarding computation of book profit under section 115J of the Income-tax Act is referred to a Larger Bench in the case of Dynamic Orthopedics P. Ltd., reported in (2010) 321 ITR 300 (SC). There .....

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..... er of the Tribunal is not required to be disturbed. 5. We have heard learned counsel for the parties. Taking into account the fact that the assessee has claimed depreciation in the profit and loss account on the basis of Income-tax Rules and not as per the Companies Act, the contention raised by the assessee, which has been rightly accepted by the Commissioner of Income-tax (Appeals) and confirme .....

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