https://www.taxtmi.com/caselaws?id=265721 The Tribunal allowed the Revenue's appeals challenging the deletion of lease equalisation charges for computing book profits under section 115JA of the Income-tax Act. It held that the charges should be added back to the book profits in accordance with the retrospective amendment specifying the inclusion of provisions for diminution in the value of assets. The Tribunal emphasized aligning with post-amendment case law and directed the Assessing Officer to compute the book profits accordingly. en-us Wed, 02 Jul 2014 00:00:00 +0530 Thu, 15 Oct 2015 06:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265721 The Tribunal allowed the Revenue's appeals challenging the deletion of lease equalisation charges for computing book profits under section 115JA of the Income-tax Act. It held that the charges should be added back to the book profits in accordance with the retrospective amendment specifying the inclusion of provisions for diminution in the value of assets. The Tribunal emphasized aligning with post-amendment case law and directed the Assessing Officer to compute the book profits accordingly. Case-Laws Income Tax Wed, 02 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265721