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TMI Blog2018 (9) TMI 217X X X X Extracts X X X X X X X X Extracts X X X X ..... n share application voluntarily disclosed as income by the assessee under VDIS for A.Y.1994-95 could not be included in the total income of the assessee for the year under consideration even for the purpose of computing book profit under section 115JA whereby an amount equal to 30% of the book profit is deemed to be the total income of the assessee chargeable to tax for the relevant previous year. We, therefore, find no infirmity in the order of the ld.CIT(Appeals) deleting the interest on share application while computing book profit under section 115JA - GA No.191 of 2017 With ITAT No.20 of 2017 - - - Dated:- 13-6-2018 - MR. ANIRUDDHA BOSE AND MR. AMITABHA CHATTERJEE, JJ. For The Appellant : Mr. Ranjan Sinha, Advocate For The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Act, if the following conditions are fulfilled, namely:- i. the declarant credits such amount in the books of account, if any, maintained by him for any source of income or in any other record, and intimates the credit so made to the Assessing Officer; and ii.the income-tax in respect of the voluntarily disclosed income is paid by the declarant within the time specified in section 66 or section 67. ( 2)The Commissioner shall, on an application made by the declarant, grant a certificate to him setting forth the particulars of the voluntarily disclosed income and the amount of income-tax paid in respect of the same. 3. The assessee s stand is that it had complied with the requirements of the two sub-clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of computing book profit under section 115JA of the Income Tax Act, whereby an amount equal to 30% of the book profit is deemed to be the total income of the assessee chargeable to tax for the relevant previous year. We, therefore, find no infirmity in the order of the ld.CIT(Appeals) deleting the interest on share application while computing book profit under section 115JA and upholding the same, we dismiss Ground No.4 of the Revenue s appeal. 4. We do not find any error in the view taken by the Tribunal or the Commissioner of Income Tax (Appeals) on this point. The decision of the Tribunal has been delivered in our opinion, on proper appreciation of the provisions of the statute. This appeal gives rise to no question of law. We, ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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