https://www.taxtmi.com/caselaws?id=180574 The court ruled in favor of the Revenue regarding the addition made to book profits under section 115JB of the Income Tax Act due to a retrospective amendment. However, the court ruled in favor of the assessee on issues related to provision for warranty expenses and foreign exchange fluctuation loss, citing relevant precedents. Additionally, the court clarified that interest under section 234D is chargeable from a specific assessment year and allowed the expenses on advertisement and sales promotion as revenue in nature, fully deductible as allowable business expenditure. The appeal was disposed of without costs awarded. en-us Wed, 22 Feb 2012 00:00:00 +0530 Wed, 30 Mar 2016 10:03:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180574 The court ruled in favor of the Revenue regarding the addition made to book profits under section 115JB of the Income Tax Act due to a retrospective amendment. However, the court ruled in favor of the assessee on issues related to provision for warranty expenses and foreign exchange fluctuation loss, citing relevant precedents. Additionally, the court clarified that interest under section 234D is chargeable from a specific assessment year and allowed the expenses on advertisement and sales promotion as revenue in nature, fully deductible as allowable business expenditure. The appeal was disposed of without costs awarded. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180574