Business Losses Deductible from Book Profits u/s 115JB for MAT; Stock Valuation Losses Not a 'Provision'.

Business Losses Deductible from Book Profits u/s 115JB for MAT; Stock Valuation Losses Not a 'Provision'. https://www.taxtmi.com/highlights?id=5163 MAT - Book profit u/s 115JB - Business loss was allowable on ordinary commercial principles in computing profits. - Since claim is direct loss in valuation of stock in trade and as this cannot be considered as a ‘provision’ as provided under Explanation-1 - AT en-us Thu, 06 Sep 2012 06:06:21 +0530 Thu, 06 Sep 2012 06:06:21 +0530 TaxTMI RSS Generator Business Losses Deductible from Book Profits u/s 115JB for MAT; Stock Valuation Losses Not a 'Provision'. https://www.taxtmi.com/highlights?id=5163 MAT - Book profit u/s 115JB - Business loss was allowable on ordinary commercial principles in computing profits. - Since claim is direct loss in valuation of stock in trade and as this cannot be considered as a ‘provision’ as provided under Explanation-1 - AT Highlights Income Tax Thu, 06 Sep 2012 06:06:21 +0530 https://www.taxtmi.com/highlights?id=5163