https://www.taxtmi.com/caselaws?id=242637 The Tribunal reversed the CIT(A)'s decision, allowing the Department's appeal. It held that the provision for doubtful loans and advances should be added back to book profits for computing Minimum Alternate Tax under section 115JB. The Tribunal emphasized the retrospective amendment by the Finance (No.2) Act, 2009, mandating the inclusion of provisions for diminution in asset value in book profits. The decision was based on relevant judicial precedents, including Essar Steel Ltd., and was pronounced on 19th June 2013. en-us Wed, 19 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:45:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242637 The Tribunal reversed the CIT(A)'s decision, allowing the Department's appeal. It held that the provision for doubtful loans and advances should be added back to book profits for computing Minimum Alternate Tax under section 115JB. The Tribunal emphasized the retrospective amendment by the Finance (No.2) Act, 2009, mandating the inclusion of provisions for diminution in asset value in book profits. The decision was based on relevant judicial precedents, including Essar Steel Ltd., and was pronounced on 19th June 2013. Case-Laws Income Tax Wed, 19 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242637