2013 (7) TMI 324

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..... MENT Sanjiv Khanna, J. (Oral) This appeal by the Revenue, which pertains to the assessment year 1999-2000, raises three issues. The first issue relates to deletion of addition of Rs.1,20,07,908/- on account of defective stock written off. The issue is covered against the Revenue by the decision of this Court in ITA 98/2010 in the case of respondent-assessee. The High Court approved the decision .....

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..... essment years. However, we do not think that the aforesaid adjustment could be made while computing book profit under Section 115 JA. We have already upheld the order of the tribunal which has deleted the addition made by the Assessing Officer to the closing stock. We fail to understand how this adjustment can be made while computing book profits under Section 115JA as or on the ground that it was .....

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