https://www.taxtmi.com/caselaws?id=207593 The Tribunal dismissed most of the assessee's appeals, upholding the disallowance of the reduction of profits earned during the sick period and exclusion of prior period expenses from net profit computation. It affirmed the addition of provisions for bad and doubtful debts to book profit and the chargeability of interest under sections 234B and 234C. The Tribunal allowed MAT credit consideration as advance tax and upheld the invocation of section 263 by the CIT. The issue of plantation expenditure valuation was remanded back to the Assessing Officer. The adjustment of MAT credit for charging interest was permitted, with the Revenue's appeal partly allowed for statistical purposes. en-us Thu, 31 Mar 2011 00:00:00 +0530 Mon, 19 Dec 2011 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207593 The Tribunal dismissed most of the assessee's appeals, upholding the disallowance of the reduction of profits earned during the sick period and exclusion of prior period expenses from net profit computation. It affirmed the addition of provisions for bad and doubtful debts to book profit and the chargeability of interest under sections 234B and 234C. The Tribunal allowed MAT credit consideration as advance tax and upheld the invocation of section 263 by the CIT. The issue of plantation expenditure valuation was remanded back to the Assessing Officer. The adjustment of MAT credit for charging interest was permitted, with the Revenue's appeal partly allowed for statistical purposes. Case-Laws Income Tax Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207593