https://www.taxtmi.com/caselaws?id=346393 The court focused on the inclusion of a provision for bad and doubtful debts in the book profit for Minimum Alternate Tax (MAT) liability under section 115JB of the Income Tax Act. The court held that such provisions for diminution in the value of assets should be added back to the book profit, allowing the Revenue to include the provision for bad debts in computing book profit. The court compared and distinguished various judicial precedents, ultimately concluding that there was no conflict between the judgments in different cases, directing the Tax Appeal to be placed before a regular Division Bench. en-us Fri, 04 Aug 2017 00:00:00 +0530 Wed, 29 Nov 2017 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346393 The court focused on the inclusion of a provision for bad and doubtful debts in the book profit for Minimum Alternate Tax (MAT) liability under section 115JB of the Income Tax Act. The court held that such provisions for diminution in the value of assets should be added back to the book profit, allowing the Revenue to include the provision for bad debts in computing book profit. The court compared and distinguished various judicial precedents, ultimately concluding that there was no conflict between the judgments in different cases, directing the Tax Appeal to be placed before a regular Division Bench. Case-Laws Income Tax Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346393