Section 115JB Dispute: Assessee Challenges Provision on Investment Value Diminution Crediting Method to Profit & Loss Account.

Section 115JB Dispute: Assessee Challenges Provision on Investment Value Diminution Crediting Method to Profit & Loss Account. https://www.taxtmi.com/highlights?id=37604 Addition u/s.115JB under the head ‘provision set aside for diminution in the value of investment holding that the same are not in the nature of provision only.” - MAT - The assessee had credited the difference between the sale price and fair value as on 31.03.2008 to Profit & Loss Account and not the difference between sale price and its cost. - No additions - AT en-us Thu, 18 Jan 2018 12:19:37 +0530 Thu, 18 Jan 2018 12:19:37 +0530 TaxTMI RSS Generator Section 115JB Dispute: Assessee Challenges Provision on Investment Value Diminution Crediting Method to Profit & Loss Account. https://www.taxtmi.com/highlights?id=37604 Addition u/s.115JB under the head ‘provision set aside for diminution in the value of investment holding that the same are not in the nature of provision only.” - MAT - The assessee had credited the difference between the sale price and fair value as on 31.03.2008 to Profit & Loss Account and not the difference between sale price and its cost. - No additions - AT Highlights Income Tax Thu, 18 Jan 2018 12:19:37 +0530 https://www.taxtmi.com/highlights?id=37604