https://www.taxtmi.com/caselaws?id=246969 The Tribunal allowed the revenue's appeal, setting aside the CIT(A) order and restoring the AO's decision regarding the interpretation of provisions for bad and doubtful debts in book profit for the assessment year 1998-99 under section 115JA. The decision was based on the retrospective amendment in clause (g) of Explanation (2) to section 115JA, aiming to prevent companies from manipulating asset values to reduce book profits. The ruling aligned with the High Court's directive and emphasized the legislative intent to curb tax avoidance practices, ensuring the integrity of book profit calculations. en-us Fri, 07 Mar 2014 00:00:00 +0530 Mon, 28 Apr 2014 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246969 The Tribunal allowed the revenue's appeal, setting aside the CIT(A) order and restoring the AO's decision regarding the interpretation of provisions for bad and doubtful debts in book profit for the assessment year 1998-99 under section 115JA. The decision was based on the retrospective amendment in clause (g) of Explanation (2) to section 115JA, aiming to prevent companies from manipulating asset values to reduce book profits. The ruling aligned with the High Court's directive and emphasized the legislative intent to curb tax avoidance practices, ensuring the integrity of book profit calculations. Case-Laws Income Tax Fri, 07 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246969