2016 (5) TMI 1613

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..... y the revenue against order dated 30/12/2013 passed by Ld CIT(A)-41, Mumbai for the assessment year 2010-11. 2. The revenue has challenged the impugned order on following effective grounds:- 1. "Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition made u/s 2(22)(e) of the Act holding that the loan received by the assessee from its 100% sub .....

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..... 4. The Ld. Counsel further submitted that the ground no. 2 pertains to computation of book profit, and the tax effect thereof is irrelevant because as per assessment order dated 05/03/2013 passed u/s 143(3) of the Act, the tax payable under the normal provisions of the Act is higher than the tax payable u/s 115JB of the Act. 5. The Ld. DR fairly conceded that the tax effect in department's appea .....

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