Amendment of section 115JB.

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..... n sub-clause (B), for the words interest, royalty , the words interest, dividend, royalty shall be substituted; (b) after sub-section (2C), the following sub-section shall be inserted, namely: ── (2D) In the case of an assessee being a company, where there is an increase in book profit of the previous year due to income of past year or years included in the book profit on account of an .....

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..... of tax by certain company. The said section provides for levy of tax on the basis of book profit which is determined after making certain adjustments to the net profit disclosed in the profit and loss account prepared in accordance with the provisions of the Companies Act, 2013. Clause (iid) of Explanation 1 of the said section provides that the amount of income in the nature of capital gains, in .....

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..... as to provide that where in the case of the company there is an increase in book profit of the previous year due to income of past year or years included in the book profit on account of an advance pricing agreement entered into by the assessee under section 92CC or on account of secondary adjustment required to be made under section 92CE, the Assessing Officer shall, on an application made to him .....

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