https://www.taxtmi.com/caselaws?id=214441 The Court held that prior period expenses should be included in the determination of net profit under Section 115JA of the Act, regardless of whether they were separately shown in the profit and loss account. The assessee was entitled to adjust prior period expenses in computing net profit, and the Assessing Officer's jurisdiction was limited to the book profit disclosed. The Tribunal's decision was set aside, and the appeal was allowed in favor of the assessee, with no costs awarded. en-us Tue, 05 Jun 2012 00:00:00 +0530 Wed, 23 Jan 2013 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214441 The Court held that prior period expenses should be included in the determination of net profit under Section 115JA of the Act, regardless of whether they were separately shown in the profit and loss account. The assessee was entitled to adjust prior period expenses in computing net profit, and the Assessing Officer's jurisdiction was limited to the book profit disclosed. The Tribunal's decision was set aside, and the appeal was allowed in favor of the assessee, with no costs awarded. Case-Laws Income Tax Tue, 05 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214441