Sec. 115JB(2) of Income-tax Act, 1961 - Company - It is settled legal position that the manner of computation as provided in s. 115JB would be complete code in itself and the computations were to be made strictly in the manner as provided therein. Expln. 1(vii) envisages reduction of profit of sick industrial company for the assessment year commencing on and from the assessment year relevant to the previous year in which the said company has become a sick industrial company under s. 17(1) of Sick Industrial Companies (Special Provisions) Act, 1985 and ending with the assessment year during which the entire net worth of such company becomes equal to or exceeds the accumulated losses. Going by these provisions, the assessee is ineligible to claim the deduction of profit earned during the year while making computations under s. 115JB. - WINDSOR MACHINES LTD. V/s DY. CIT - [2020] 206 TTJ 148 (ITAT-MUMBAI)