https://www.taxtmi.com/caselaws?id=369320 The Tribunal allowed the assessee's appeal, deleting the adjustment under section 115JB for the Assessment Year 2011-12. The Tribunal held that the Assessing Officer exceeded jurisdiction by making an adjustment not envisaged by Explanation 1 to Section 115JB. Relying on a precedent, the Tribunal ruled that the Assessing Officer cannot go behind the net profit shown in the profit and loss account, except as provided in the Explanation to section 115JB. Consequently, the impugned adjustment was deleted, and the assessee's appeal was successful. en-us Fri, 07 Sep 2018 00:00:00 +0530 Thu, 25 Oct 2018 08:45:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369320 The Tribunal allowed the assessee's appeal, deleting the adjustment under section 115JB for the Assessment Year 2011-12. The Tribunal held that the Assessing Officer exceeded jurisdiction by making an adjustment not envisaged by Explanation 1 to Section 115JB. Relying on a precedent, the Tribunal ruled that the Assessing Officer cannot go behind the net profit shown in the profit and loss account, except as provided in the Explanation to section 115JB. Consequently, the impugned adjustment was deleted, and the assessee's appeal was successful. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369320