Books of Accounts Prepared u/s 115JB r.w.s 211(2) of Companies Act not Applicable: ITAT Grants Exemption to ICICI Bank [Read Order]

Books of Accounts Prepared - Companies Act not Applicable - ITAT Grants Exemption to ICICI Bank - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted exemption to ICICI Bank as books of accounts prepared under Section 115JB read with Section 211(2) of the Companies Act are not applicable to it. In this appeal the assessee had prayed that provisions of Section 115JB of the Income Tax Act were not…

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