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2006 (8) TMI 138 - HC - Income TaxBook profits u/s 115JA - AO added the amount being the provision made by the assessee for bad and doubtful debts for the purposes of increasing book profits - assessee contended that the book profits could not be increased because of Explanation (c) under section 115JA(2) - bare perusal of the above Explanation (c) makes it clear that the increase shall be of the amount or amounts set aside for meeting liabilities other than ascertained liabilities. In the present case, there does not appear to be any dispute about the fact that the liability was ascertained. - since in our opinion, a reading of Explanation (c) of section 115JA(2) itself is very clear. The Commissioner of Income-tax (Appeals) allowed the appeal of the assessee and that was upheld by the Tribunal in the impugned order. - we do not find that the Tribunal has taken an unreasonable view.
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