https://www.taxtmi.com/caselaws?id=210704 The Tribunal allowed the adjustment of brought forward losses for computing book profit under Section 115JB, excluding adjustments made under a High Court scheme. The Tribunal directed the AO to re-examine expenses incurred for running a school and club. It deleted the addition of notional interest, instructed the AO to adopt the opening WDV for depreciation, upheld the charging of interest under Sections 234B and 234D, and directed quantification of MAT credit. The Tribunal upheld the deduction for donations made to a research institute under Section 35(1)(ii), emphasizing compliance with relevant provisions. The appeals were partly allowed, with directions for reassessment in line with the Tribunal's decisions. en-us Tue, 30 Aug 2011 00:00:00 +0530 Tue, 13 Feb 2018 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210704 The Tribunal allowed the adjustment of brought forward losses for computing book profit under Section 115JB, excluding adjustments made under a High Court scheme. The Tribunal directed the AO to re-examine expenses incurred for running a school and club. It deleted the addition of notional interest, instructed the AO to adopt the opening WDV for depreciation, upheld the charging of interest under Sections 234B and 234D, and directed quantification of MAT credit. The Tribunal upheld the deduction for donations made to a research institute under Section 35(1)(ii), emphasizing compliance with relevant provisions. The appeals were partly allowed, with directions for reassessment in line with the Tribunal's decisions. Case-Laws Income Tax Tue, 30 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210704