https://www.taxtmi.com/caselaws?id=211272 Book profit under section 115J cannot be increased for additional depreciation arising from a retrospective change from the Straight Line Method to the Written Down Value Method where the change follows recognised accounting standards and is charged to the profit and loss account. The Assessing Officer may examine compliance with the Companies Act and make only the adjustments expressly permitted by the statutory Explanation; the depreciation addition is therefore unsustainable. Advance-tax interest under sections 234B and 234C does not apply where taxable income arises through the section 115J deeming mechanism only after accounts are prepared and audited at year-end. en-us Thu, 07 Apr 2011 00:00:00 +0530 Thu, 28 Apr 2016 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211272 Book profit under section 115J cannot be increased for additional depreciation arising from a retrospective change from the Straight Line Method to the Written Down Value Method where the change follows recognised accounting standards and is charged to the profit and loss account. The Assessing Officer may examine compliance with the Companies Act and make only the adjustments expressly permitted by the statutory Explanation; the depreciation addition is therefore unsustainable. Advance-tax interest under sections 234B and 234C does not apply where taxable income arises through the section 115J deeming mechanism only after accounts are prepared and audited at year-end. Case-Laws Income Tax Thu, 07 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211272