https://www.taxtmi.com/caselaws?id=375812 A provision for diminution in the value of assets, including non-performing assets, was required to be added back in computing book profits under section 115JA after the retrospective insertion of clause (g) in the Explanation, which brought such provisions within the book-profit computation. On rectification, an intimation under section 143(1)(a) could not be corrected under section 154 when the disallowance remained debatable and no binding clarification had yet settled the point; once the issue stood settled by binding precedent, rectification became permissible. en-us Tue, 18 Dec 2018 00:00:00 +0530 Mon, 25 Feb 2019 20:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375812 A provision for diminution in the value of assets, including non-performing assets, was required to be added back in computing book profits under section 115JA after the retrospective insertion of clause (g) in the Explanation, which brought such provisions within the book-profit computation. On rectification, an intimation under section 143(1)(a) could not be corrected under section 154 when the disallowance remained debatable and no binding clarification had yet settled the point; once the issue stood settled by binding precedent, rectification became permissible. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375812