2013 (1) TMI 962

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..... ant Member: This appeal by the assessee is directed against the order of the Commissioner of Income-tax (Appeals) Guntur dated 9.3.2012, for the assessment year 2009-2010. 2. Revenue raised the following grounds- 1. The Order of the Learned. CIT(A) is erroneous both in law and on facts. 2) The Learned. CIT(A) erred in holding that the book profit u/s. 115JB is Rs.NIL land consequent .....

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..... ee was processed under S.143(1) of the Income-tax Act, vide intimation dated 7.9.2010, wherein the Assessing Officer considered the deemed income under S.115JB of the Act at ₹ 69,19,580, being net profit as per the Profit Loss Account, as against the returned loss. The Assessing Officer made certain adjustments, while determining the income, while passing the intimation under S.143(1)of th .....

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