Adjustment in book profit u/s 115JB - assessee make adjustment ...

Case Laws Income Tax

June 26, 2019

Adjustment in book profit u/s 115JB - assessee make adjustment in sale and reduced the profit - Provisions relating to adjustments by way of increase and decrease to the net profit are very explicit in section 115JB and the items which are to be added to the net profit have been listed out in Explanation - AO/CIT(A) should adhere to that list and cannot travel beyond these items - remanded to AO

View Source

← Previous Next →

Adjustment in book profit u/s 115JB - assessee make adjustment ...

Case Laws Income Tax

June 26, 2019

You may also like:

Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB...

Addition towards provision for premium on redemption of debentures to book profit u/s 115JB - adjustments to book profit - provision created for premium payable on...

MAT - Adjustments to Book Profit - CIT(A) failed to consider the binding precedent and allowed the adjustment beyond what is provided in Explanation to Section 115JB by...

MAT - Adjustments to book profit u/s.115JB - Disallowance on account of provision for periodic maintenance charges - Periodic maintenance cost is an integral part of the...

MAT u/s 115JB - Reversal of provision for bad debts - Adjustments to Book Profit - the benefit of clause (i) of Explanation 1 to section 115JB (2) will not be available...

TP Adjustment - non granting of adjustment on import duty - as necessary consumption of the material is only booked in the profit and loss account for which the...

The provisions of section 69A allow for additions if the assessee is found to be the owner of unrecorded money, bullion, jewelry, or valuable articles. However, when...

Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

Disallowing the claim of the appellant to reduce the reversal of provision for bad and doubtful debts from the book profits computed under section 115JB - if the...

MAT - Computation of Book profit u/s 115JB - doubtful debts - Since, we have held that provision of doubtful debts is not an allowable deduction while computing income...

Quick Updates: