MAT - Deduction for provision of bad and doubtful debts while ...

Court Rules Provisions for Bad Debts Must Be Added Back When Calculating Book Profits u/s 115JB of Income Tax Act.

October 12, 2021

Case Laws Income Tax AT

MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause “C” of Explanation 1 to Section 115JB(2) of the Act. We hold that the issue in dispute falls in Clause (i) of Explanation 1 to Section 115JB(2) of the Act. We are not inclined to make this provision redundant or otiose - we hold that provision for bad and doubtful debts is required to be added back while computing book profits u/s.115JB - AT

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MAT - Deduction for provision of bad and doubtful debts while ...

Court Rules Provisions for Bad Debts Must Be Added Back When Calculating Book Profits u/s 115JB of Income Tax Act.

October 12, 2021

Case Laws Income Tax AT

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