https://www.taxtmi.com/caselaws?id=184700 The Tribunal remitted the matter back to the Assessing Officer to consider whether the provision for bad and doubtful debts was deductible from book profits under section 115J of the Income Tax Act. The Tribunal emphasized the importance of determining whether the provision was specific to certain debts or a contingent liability in the computation of book profits. Further examination by the Assessing Officer was deemed necessary to ascertain the nature of the provision and its impact on the taxable income before making any adjustments to the returned income. en-us Mon, 16 Feb 2004 00:00:00 +0530 Mon, 18 Jul 2016 11:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184700 The Tribunal remitted the matter back to the Assessing Officer to consider whether the provision for bad and doubtful debts was deductible from book profits under section 115J of the Income Tax Act. The Tribunal emphasized the importance of determining whether the provision was specific to certain debts or a contingent liability in the computation of book profits. Further examination by the Assessing Officer was deemed necessary to ascertain the nature of the provision and its impact on the taxable income before making any adjustments to the returned income. Case-Laws Income Tax Mon, 16 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184700