https://www.taxtmi.com/caselaws?id=189959 The Tribunal dismissed the appeal, upholding the CIT(A)'s decision that the amounts adjusted from the revaluation reserve could not be reduced from the book profits under section 115J. The Tribunal emphasized that the amounts were neither credited to the profit and loss account nor qualified as reserves, thus not meeting the conditions stipulated in the Explanation to section 115J. The appeal of the assessee was dismissed. en-us Tue, 16 May 2000 00:00:00 +0530 Fri, 27 Jan 2017 17:58:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189959 The Tribunal dismissed the appeal, upholding the CIT(A)'s decision that the amounts adjusted from the revaluation reserve could not be reduced from the book profits under section 115J. The Tribunal emphasized that the amounts were neither credited to the profit and loss account nor qualified as reserves, thus not meeting the conditions stipulated in the Explanation to section 115J. The appeal of the assessee was dismissed. Case-Laws Income Tax Tue, 16 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189959