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2016 (4) TMI 252 - KARNATAKA HIGH COURTApplicability of Explanation (c) to Section 115JB(1)(MAT) - Provisions made for Bad and Doubtful debts - Held That:- The issue is already covered by the referred decision of this Court in the case of CIT v. Yokogawa India Ltd., [2011 (8) TMI 766 - KARNATAKA HIGH COURT] held that beside debiting Profit & Loss A/C and creating a provision assessee also reduces the amount from Loan & advances and at the end only net amount is shown in asset side - Therefore when bad or doubtful debts is reduced from the loan & Advances Explanation to Section 115JA or 115JB is not at all attracted. - In that context even if amendment which is made retrospective the benefit given by the Tribunal and the appellate Commissioner to the assessee is in no way affected. - Decided in favor of assessee.
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