Receipt not in the Nature of Income cannot be included in Book Profit for Computation u/s 115JB, Interest in Power subsidy has to be excluded: ITAT

By Taxscan Team - On November 28, 2022 4:05 pm - 2 mins read

Receipt - not - in - the - Nature - of - Income - Book - Profit - for - Computation - Power - subsidy - ITAT - TAXSCAN

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the receipt not like income cannot be included in book profit for computation u/s 115JB of the Income Tax Act,1961 and the interest in power subsidy has to be excluded. Sh. Ved Jain, Adv. &MsSupriya, CA appeared for the assessee and Sh….

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