High Court of Karnataka Allows Appeal in Income Tax Case — Capital Gain Not Included in Book Profit Under Section 115JB. Income from capital gain on sale of land held as investment cannot be included in book profit for MAT purposes under Section 115JB of the Income Tax Act, 1961.
16 Dec 2015The appeal was filed by Sri Hariram Hotels (P) Ltd. against the order of the Income Tax Appellate Tribunal (ITAT), Bangalore Bench, relating to the as...




