https://www.taxtmi.com/caselaws?id=359934 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. It directed the Assessing Officer to recompute the taxable income under section 115JB of the Act based on the Tribunal's findings on each issue. Key points include disallowing the addition of prior period expenses to book profits, recognizing provision for bad and doubtful debts as an ascertained liability, rejecting the addition of provision for non-moving and obsolete stock to book profits, treating capital contributions and RGGVY subsidy as capital receipts, and allowing deductions for provision for leave encashment and Fringe Benefit Tax in book profits. en-us Fri, 27 Apr 2018 00:00:00 +0530 Fri, 15 Jun 2018 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359934 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. It directed the Assessing Officer to recompute the taxable income under section 115JB of the Act based on the Tribunal's findings on each issue. Key points include disallowing the addition of prior period expenses to book profits, recognizing provision for bad and doubtful debts as an ascertained liability, rejecting the addition of provision for non-moving and obsolete stock to book profits, treating capital contributions and RGGVY subsidy as capital receipts, and allowing deductions for provision for leave encashment and Fringe Benefit Tax in book profits. Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359934