AO failure to Re-computing Book Profit u/s 115 JB of Income Tax Act: ITAT directs AO to deletes addition of Rs. 4.71 crore [Read Order]

The Assessing Officer was completely erred in recomputing book profit under Section 115JB of the Income Tax Act, 1961
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The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 4.71 crore after observing the AO’s failure to recompute book profit under Section 115JB of the Income Tax Act, 1961. The assessee company, Golden Weaving Mills Pvt Ltd filed its return of income…

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