https://www.taxtmi.com/caselaws?id=259357 The High Court dismissed the appeal regarding the addition of the provision for doubtful debt to book profits under Section 115JA of the Income Tax Act, holding that a provision for doubtful debts is not a liability and cannot be added to book profits. However, the Court allowed the appeal concerning the imposition of interest under Sections 234B and 234C, ruling that the interest was not payable in this case. The judgment provides a thorough analysis of legal provisions and case laws, resulting in a partial allowance of the appeal with detailed reasoning provided for each issue. en-us Thu, 23 Apr 2015 00:00:00 +0530 Fri, 08 May 2015 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259357 The High Court dismissed the appeal regarding the addition of the provision for doubtful debt to book profits under Section 115JA of the Income Tax Act, holding that a provision for doubtful debts is not a liability and cannot be added to book profits. However, the Court allowed the appeal concerning the imposition of interest under Sections 234B and 234C, ruling that the interest was not payable in this case. The judgment provides a thorough analysis of legal provisions and case laws, resulting in a partial allowance of the appeal with detailed reasoning provided for each issue. Case-Laws Income Tax Thu, 23 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259357