<h1>Supreme Court: Provision for Doubtful Debts Not to be Added to Book Profit u/s 115JA of Income-tax Act.</h1> The Supreme Court ruled that the Assessing Officer was not justified in adding back the provision for doubtful debts of Rs. 92,15,187 to the net profit under clause (c) of the Explanation to Section 115JA of the Income-tax Act, 1961. The Court clarified that the provision for doubtful debts is meant to cover potential asset value diminution, not a liability. Therefore, it does not fall under Item (c), which pertains to provisions for unascertained liabilities. Consequently, the provision for doubtful debts should not be added back to the net profit for computing book profit.