[aaykarbhavan] CIT couldn’t exercise revisionary power if AO accepted book profit for MAT purposes after reducing prior period exp.

 

CIT couldn't exercise revisionary power if AO accepted book profit for MAT purposes after reducing prior period exp.

October 9, 2014[2014] 49 taxmann.com 70 (Hyderabad - Trib.)

IT: Where Assessing Officer accepted book profit under section 115JB, no revision under section 263 could be done on ground that prior period expenditure had been reduced while computing book profit

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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