https://www.taxtmi.com/caselaws?id=158409 The High Court set aside the Tribunal's order and directed the Assessing Officer to consider the amended provisions for reassessment regarding the provision for bad debt in book profit computation. It also directed the Assessing Officer to demand interest in accordance with a specific judgment under section 234D. The court dismissed Revenue's appeals on the disallowance under section 14A, stating that reassessment for any year prior to 2001-02 is not justified. The judgment upheld the yield to maturity method of valuation and directed the Assessing Officer to follow a specific judgment on the classification of rural branches. Additionally, the court authorized the proportionate addition of expenditure attributable to exempted income in book profit computation under section 115JA. en-us Fri, 22 Oct 2010 00:00:00 +0530 Mon, 28 Oct 2013 10:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158409 The High Court set aside the Tribunal's order and directed the Assessing Officer to consider the amended provisions for reassessment regarding the provision for bad debt in book profit computation. It also directed the Assessing Officer to demand interest in accordance with a specific judgment under section 234D. The court dismissed Revenue's appeals on the disallowance under section 14A, stating that reassessment for any year prior to 2001-02 is not justified. The judgment upheld the yield to maturity method of valuation and directed the Assessing Officer to follow a specific judgment on the classification of rural branches. Additionally, the court authorized the proportionate addition of expenditure attributable to exempted income in book profit computation under section 115JA. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158409