2013 (10) TMI 1362

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..... omes Ltd. case [2013 (5) TMI 123 - KARNATAKA HIGH COURT ] Appellate Authorities were correct in holding that when computing the Book Profit u/s.115JB of the Act the assessee need not add back lease equalization reserve (reserve for doubtful income) and provisions for contingencies (unascertained liability) - See Weizmann Homes Ltd. case [2013 (5) TMI 123 - KARNATAKA HIGH COURT ] - IT APPEAL No .....

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..... m finance being the eligible business. (ii) Whether the Appellate Authorities were correct in holding that when computing the Book Profit u/s.115JB of the Act the assessee need not add back lease equalization reserve (reserve for doubtful income) and provisions for contingencies (unascertained liability)? 3. Mr. K.V. Aravind, learned counsel for the revenue invited our attention to the .....

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..... ppeal, by the following order: (i) The first substantial question of law is answered in favour of the assessee and against the revenue in terms of the judgment dated 4th March 2013 passed by this Court in Weizmann Homes Ltd. case (supra) and the connected appeals. (ii) The second question is answered in favour of the revenue and against the assessee in terms of the very same judgment dated .....

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