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TMI Blog2009 (4) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... C(A)s. Mr. K. Venkatanarayanan for Mr.Subbaraya Aiyar for the respondent in T.C.(A)Nos. 480 and 806 of 2008 Mr. Quadin Hogeyn for the Respondent in T.C.(A)No.749 of 2008 JUDGMENT The Judgment of the Court was delivered by K.RAVIRAJA PANDIAN J. - As the question of law involved in these tax cases is common, we have taken the first tax case appeal in T.C.(A) No.480 of 2008 as a typical c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT assessment is to be worked out on the basis of the adjusted book profit and not on the basis of the profit computed under the regular provisions of law applicable to the computation of profits and gains of business or profession. The correctness of the same is now canvassed by formulating the question of law to the effect that whether on the facts and in the circumstances of the case, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to alter the profit and loss account prepared by the assessee under the provisions contained in the Companies Act while arriving at the book profit under Section 115JA and the book profit so arrived at should be the basis for taxation and, therefore, the computation under section 80HHC should be limited to the case of profits of eligible category only. For coming to such a conclusion, this Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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