https://www.taxtmi.com/caselaws?id=377226 Book profit under section 115JB cannot be enhanced through rectification by adding an upward transfer pricing adjustment unless the adjustment is specifically permitted by Explanation 1. The Assessing Officer's power to alter book profit is confined to the items expressly listed in the Explanation, and an upward adjustment recommended by the Transfer Pricing Officer does not fall within those prescribed additions. The cited coordinate bench view was relied on to support the same interpretation, confirming that such an addition is not sustainable in the computation of book profit. en-us Fri, 08 Feb 2019 00:00:00 +0530 Tue, 26 Mar 2019 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377226 Book profit under section 115JB cannot be enhanced through rectification by adding an upward transfer pricing adjustment unless the adjustment is specifically permitted by Explanation 1. The Assessing Officer's power to alter book profit is confined to the items expressly listed in the Explanation, and an upward adjustment recommended by the Transfer Pricing Officer does not fall within those prescribed additions. The cited coordinate bench view was relied on to support the same interpretation, confirming that such an addition is not sustainable in the computation of book profit. Case-Laws Income Tax Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377226