https://www.taxtmi.com/caselaws?id=210326 The High Court ruled in favor of the Revenue, holding that the provision for diminution in the value of investment should be included in the book profit under section 115JB of the Income-tax Act, 1961. The Court considered the retrospective amendment introduced by the Finance Act, which clarified that such provisions should increase the book profits. Consequently, the adjustment claimed by the assessee was deemed invalid, and the amount was ordered to be added to the profit, enhancing the book profit under section 115JB. en-us Mon, 30 May 2011 00:00:00 +0530 Wed, 26 Jun 2013 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210326 The High Court ruled in favor of the Revenue, holding that the provision for diminution in the value of investment should be included in the book profit under section 115JB of the Income-tax Act, 1961. The Court considered the retrospective amendment introduced by the Finance Act, which clarified that such provisions should increase the book profits. Consequently, the adjustment claimed by the assessee was deemed invalid, and the amount was ordered to be added to the profit, enhancing the book profit under section 115JB. Case-Laws Income Tax Mon, 30 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210326