https://www.taxtmi.com/caselaws?id=17088 The Tribunal allowed the claim for prior period depreciation and expenses under s. 115J(1A) of the IT Act, emphasizing the importance of considering both current and past financial elements in determining book profit for companies. The Tribunal held that prior period depreciation and expenses should not be excluded, aligning with the statutory framework and principles governing the computation of book profit. This decision clarifies the significance of statutory provisions, particularly those from the Companies Act, in preventing profit manipulation and ensuring accurate computation of book profit under s. 115J of the IT Act, 1961. en-us Tue, 07 Oct 1997 00:00:00 +0530 Tue, 15 Sep 2009 11:26:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17088 The Tribunal allowed the claim for prior period depreciation and expenses under s. 115J(1A) of the IT Act, emphasizing the importance of considering both current and past financial elements in determining book profit for companies. The Tribunal held that prior period depreciation and expenses should not be excluded, aligning with the statutory framework and principles governing the computation of book profit. This decision clarifies the significance of statutory provisions, particularly those from the Companies Act, in preventing profit manipulation and ensuring accurate computation of book profit under s. 115J of the IT Act, 1961. Case-Laws Income Tax Tue, 07 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17088