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2020 (5) TMI 145 - HC - Income TaxMAT - Computing book profit u/s 115JB - assessee Company has not added the provision for bad and doubtful advance as determining book profits - HELD THAT:- Issue involved is squarely covered by the decision of this Court in the case of Commissioner of Income Tax Vs. Kirloskar Systems Limited [2013 (12) TMI 9 - KARNATAKA HIGH COURT]wherein this Court has held that no addition be made to the profit as per the profit and loss account by invoking clause (i) or (c) of Explanation 1 to Section 115JB of the Act in a case where there is a corresponding reduction of the sum debited to the profit and loss account on account of provision for bad and doubtful debts from the Advances shown in the Balance Sheet of the Assessee. - Decided against revenue.
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