https://www.taxtmi.com/caselaws?id=66815 For section 115JB computation, the profit and loss account drawn under Parts II and III of Schedule VI is the proper starting point, and no further adjustment is permitted beyond those specifically authorised by the Explanation; extraordinary items are therefore not excluded on any general basis. Delayed provident fund payment was not disallowable where the payment had been made before year-end. Depreciation on software at 25 per cent was upheld, as the assessee accepted that rate. The sales tax disallowance required fresh examination because the relevant material and payment adjustment issues needed reconsideration with hearing opportunity. Consequential relief was granted in respect of interest. en-us Thu, 21 Sep 2006 00:00:00 +0530 Wed, 18 Dec 2024 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66815 For section 115JB computation, the profit and loss account drawn under Parts II and III of Schedule VI is the proper starting point, and no further adjustment is permitted beyond those specifically authorised by the Explanation; extraordinary items are therefore not excluded on any general basis. Delayed provident fund payment was not disallowable where the payment had been made before year-end. Depreciation on software at 25 per cent was upheld, as the assessee accepted that rate. The sales tax disallowance required fresh examination because the relevant material and payment adjustment issues needed reconsideration with hearing opportunity. Consequential relief was granted in respect of interest. Case-Laws Income Tax Thu, 21 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66815