https://www.taxtmi.com/caselaws?id=356114 The Court ruled in favor of the assessee in a case concerning the deduction of lease equalization charges and provisions for non-performing assets (NPAs) while computing book profit under Section 115JA of the Income Tax Act. The Court held that lease equalization charges could be deducted as they balanced depreciation claimed and capital recovery amounts, providing a true and fair view of accounts. Additionally, it was determined that NPAs should not be adjusted while computing book profits. The Revenue's appeal was dismissed, and both issues were decided in favor of the assessee. en-us Wed, 21 Feb 2018 00:00:00 +0530 Sat, 24 Feb 2018 08:24:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356114 The Court ruled in favor of the assessee in a case concerning the deduction of lease equalization charges and provisions for non-performing assets (NPAs) while computing book profit under Section 115JA of the Income Tax Act. The Court held that lease equalization charges could be deducted as they balanced depreciation claimed and capital recovery amounts, providing a true and fair view of accounts. Additionally, it was determined that NPAs should not be adjusted while computing book profits. The Revenue's appeal was dismissed, and both issues were decided in favor of the assessee. Case-Laws Income Tax Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356114