https://www.taxtmi.com/caselaws?id=70038 The Tribunal upheld the Commissioner (Appeals)'s decision in a case involving the interpretation of the word 'or' in the Explanation to section 115J(1A) for computing book profit. It ruled that all items listed in the Explanation are distinct and can be disallowed individually to arrive at the correct book profit, even if 'or' is sometimes interpreted as 'and' to fulfill legislative intent. The Tribunal dismissed the appellant's appeal due to an apparent error in the computation. Additionally, the Tribunal affirmed the Assessing Officer's jurisdiction to rectify orders under section 154, concluding that the rectification was valid based on the evident error in the record. en-us Fri, 10 Feb 1995 00:00:00 +0530 Wed, 13 Apr 2011 16:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70038 The Tribunal upheld the Commissioner (Appeals)'s decision in a case involving the interpretation of the word 'or' in the Explanation to section 115J(1A) for computing book profit. It ruled that all items listed in the Explanation are distinct and can be disallowed individually to arrive at the correct book profit, even if 'or' is sometimes interpreted as 'and' to fulfill legislative intent. The Tribunal dismissed the appellant's appeal due to an apparent error in the computation. Additionally, the Tribunal affirmed the Assessing Officer's jurisdiction to rectify orders under section 154, concluding that the rectification was valid based on the evident error in the record. Case-Laws Income Tax Fri, 10 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70038