https://www.taxtmi.com/caselaws?id=184035 The revenue's appeal under section 260A of the Income-tax Act regarding the treatment of provisions for non-performing assets/doubtful debts/advances in the computation of book profits under section 115JA was successful. The court held that the amended provision allowing for provisions for diminution in the value of any asset to be added back to book profits applied to the case. The court emphasized the distinction between setting aside an amount and making a provision for future write-offs, ruling in favor of the revenue. The Tribunal's order was set aside, and the assessing authority's view was upheld based on the new legislative amendment. en-us Wed, 09 Sep 2009 00:00:00 +0530 Tue, 28 Jun 2016 14:14:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184035 The revenue's appeal under section 260A of the Income-tax Act regarding the treatment of provisions for non-performing assets/doubtful debts/advances in the computation of book profits under section 115JA was successful. The court held that the amended provision allowing for provisions for diminution in the value of any asset to be added back to book profits applied to the case. The court emphasized the distinction between setting aside an amount and making a provision for future write-offs, ruling in favor of the revenue. The Tribunal's order was set aside, and the assessing authority's view was upheld based on the new legislative amendment. Case-Laws Income Tax Wed, 09 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184035