No reassessment just because addition made in respect of Govt. grants to be reflected in book profit u/s. 115JB

IT : Where, during original assessment, Assessing Officer, was of view that assessee had to offer for tax 15 per cent of government grant received by it being a Government incorporated Electricity company instead of 10 per cent as offered by assessee and accordingly made additions by 5 per cent to assessee's income, reopening of assessment after four years on grounds that said upward adjustment would also reflect in computation under section 115JB was unjustified

from www.taxmann.com Latest Case Laws https://ift.tt/2yK5Hwx