https://www.taxtmi.com/caselaws?id=240344 The court held that provisions for diminution in asset value and doubtful debts do not need to be increased for computing book profit under Section 115JB. Provisions for gratuity and leave encashment were not contingent liabilities. The court dismissed the appeal challenging the levy of interest under sections 234B and 234C when Section 115JB is invoked. The court affirmed that the assessee is liable for advance tax but not for interest under sections 234B and 234C. Ultimately, the court dismissed the appeal, finding no substantial legal questions for consideration. en-us Mon, 28 Oct 2013 00:00:00 +0530 Fri, 05 Jun 2026 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240344 The court held that provisions for diminution in asset value and doubtful debts do not need to be increased for computing book profit under Section 115JB. Provisions for gratuity and leave encashment were not contingent liabilities. The court dismissed the appeal challenging the levy of interest under sections 234B and 234C when Section 115JB is invoked. The court affirmed that the assessee is liable for advance tax but not for interest under sections 234B and 234C. Ultimately, the court dismissed the appeal, finding no substantial legal questions for consideration. Case-Laws Income Tax Mon, 28 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240344