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of <h1>Bombay High Court upholds ITAT decision on Income-tax Act section 115JB addition. Precedent cited.</h1> <h3>Commissioner of Income-tax Versus Adbhut Trading Co. P. Ltd.</h3> Commissioner of Income-tax Versus Adbhut Trading Co. P. Ltd. - [2011] 338 ITR 94 The High Court Bombay upheld the Income-tax Appellate Tribunal's decision to delete the addition of Rs. 1.98 crores made by the Assessing Officer under section 115JB of the Income-tax Act, 1961. The Tribunal followed the apex court decision in Apollo Tyres Ltd. v. CIT [2002] 255 ITR 273 (SC). The court dismissed the appeal, stating that once accounts are certified under the Companies Act, the Assessing Officer cannot challenge their preparation.
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