https://www.taxtmi.com/caselaws?id=75414 The High Court upheld the Tribunal's decision, ruling against the revenue in an appeal concerning the assessment year 2000-2001 under Section 260A of the Income Tax Act. The Court found that the assessing officer's decision, unless legally unsustainable, cannot be considered erroneous based solely on differing views. Emphasizing Supreme Court precedents, the Court clarified that provisions for doubtful debts should not be treated as liabilities for computing book profits. Consequently, the appeal was dismissed in favor of the assessee, with no costs awarded. en-us Tue, 22 Dec 2009 00:00:00 +0530 Wed, 14 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75414 The High Court upheld the Tribunal's decision, ruling against the revenue in an appeal concerning the assessment year 2000-2001 under Section 260A of the Income Tax Act. The Court found that the assessing officer's decision, unless legally unsustainable, cannot be considered erroneous based solely on differing views. Emphasizing Supreme Court precedents, the Court clarified that provisions for doubtful debts should not be treated as liabilities for computing book profits. Consequently, the appeal was dismissed in favor of the assessee, with no costs awarded. Case-Laws Income Tax Tue, 22 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75414