https://www.taxtmi.com/caselaws?id=77817 Section 115JA applies only to an assessee that is a company under the Companies Act framework, so a statutory electricity board constituted under the Electricity (Supply) Act, 1948 was outside its ambit. Subsidy, grants and allied receipts such as interest on delayed payments, liquidated damages, rent, commission and tender-form sale proceeds were not shown to have the direct nexus required for exclusion from book profit under the relevant Explanation. Prior period adjustments were not liable to further exclusion beyond the statutory scheme, and provision for bad and doubtful debts was treated as a diminution in asset value rather than a liability provision, so it could not be added back on that basis. en-us Mon, 06 Aug 2001 00:00:00 +0530 Tue, 11 Feb 2025 10:37:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77817 Section 115JA applies only to an assessee that is a company under the Companies Act framework, so a statutory electricity board constituted under the Electricity (Supply) Act, 1948 was outside its ambit. Subsidy, grants and allied receipts such as interest on delayed payments, liquidated damages, rent, commission and tender-form sale proceeds were not shown to have the direct nexus required for exclusion from book profit under the relevant Explanation. Prior period adjustments were not liable to further exclusion beyond the statutory scheme, and provision for bad and doubtful debts was treated as a diminution in asset value rather than a liability provision, so it could not be added back on that basis. Case-Laws Income Tax Mon, 06 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77817