https://www.taxtmi.com/caselaws?id=11931 The court ruled in favor of the assessee, allowing the deduction of extra shift allowance from book profits under section 115J of the Income-tax Act for the assessment year 1990-91. The Tribunal's decision to deduct the allowance and apply Explanation 2 of section 115J was upheld, emphasizing adherence to statutory requirements and certified accounts under the Companies Act. The court highlighted the Assessing Officer's limited power to make specified adjustments and inability to recompute profits by excluding provisions like arrears of depreciation, citing relevant Supreme Court judgments. en-us Mon, 23 Sep 2002 00:00:00 +0530 Fri, 12 Feb 2010 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11931 The court ruled in favor of the assessee, allowing the deduction of extra shift allowance from book profits under section 115J of the Income-tax Act for the assessment year 1990-91. The Tribunal's decision to deduct the allowance and apply Explanation 2 of section 115J was upheld, emphasizing adherence to statutory requirements and certified accounts under the Companies Act. The court highlighted the Assessing Officer's limited power to make specified adjustments and inability to recompute profits by excluding provisions like arrears of depreciation, citing relevant Supreme Court judgments. Case-Laws Income Tax Mon, 23 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11931