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2002 (10) TMI 39 - KERALA HIGH COURT"1. Whether, is the Tribunal right in holding that with reference to the book profit as shown in the profit and loss account of the company the additions made by the Assessing Officer by way of disallowance of the provision for foreseeable loss on con tract, the provision for bad and doubtful debts and the provision for obsolescence of stores, are not in accordance with the provisions of section 115J ? - 2. Whether, on the facts and in the circumstances of the case, cannot the addition in this case be upheld as a prima facie adjustment in accordance with section 143(1)(a) ? -3. Whether, the Tribunal is right in law in holding that the proviso to section 143(1)(a) permits only the disallowance of any loss carried forward, deduction, allowance or relief claimed in the return which on the basis of the information is prima facie inadmissible ?' the adjustment made in this case is also not within the scope of prima facie disallowance under section 143(1)(a) as clarified by the Central Board in the Circular No. 689, dated August 24, 1994 ?" - The matter requires reconsideration at the hands of the Tribunal. Hence, the addition of interest on income-tax cannot be added. Further, the matter is remanded regarding the applicability of section 115J(1A), Explanations (a) and (c) of the Act to the Tribunal.
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