https://www.taxtmi.com/caselaws?id=15077 A company claimed that a provision for doubtful/irrecoverable debts should be excluded while computing "book profit" under s.115J, and that its inclusion could be rectified under s.154 pursuant to an intimation under s.143(1)(a). Applying SC rulings, the HC held that a provision for doubtful debts represents an unascertained liability/reserve and therefore cannot be excluded from book profit under the Explanation to s.115J(1A); the assessing authority and first appellate authority were correct in adding it back. The HC further held that the Tribunal erred in directing rectification and in rejecting adjustment under s.143(1)(a) on this point. The Revenue's appeal was allowed and the addition was restored. en-us Tue, 14 Mar 2000 00:00:00 +0530 Sat, 20 Dec 2025 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15077 A company claimed that a provision for doubtful/irrecoverable debts should be excluded while computing "book profit" under s.115J, and that its inclusion could be rectified under s.154 pursuant to an intimation under s.143(1)(a). Applying SC rulings, the HC held that a provision for doubtful debts represents an unascertained liability/reserve and therefore cannot be excluded from book profit under the Explanation to s.115J(1A); the assessing authority and first appellate authority were correct in adding it back. The HC further held that the Tribunal erred in directing rectification and in rejecting adjustment under s.143(1)(a) on this point. The Revenue's appeal was allowed and the addition was restored. Case-Laws Income Tax Tue, 14 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15077