https://www.taxtmi.com/caselaws?id=381964 The High Court directed the Tribunal to determine if long term capital gain credited to the profit and loss account can be added a second time to the book profit under section 115JB of the Income Tax Act, 1961. The Tribunal found potential double addition due to inclusion of profit on sale of pledged securities in the loss for the year. The issue was set aside for verification. Regarding the authority of the assessing officer to add back a sum written off as irrecoverable, no such addition was made in the assessment order. The Tribunal dismissed this ground, partially allowing the assessee's appeal. The Tribunal provided detailed analysis and directions for further verification by the Assessing Officer. en-us Tue, 23 Apr 2019 00:00:00 +0530 Fri, 21 Jun 2019 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381964 The High Court directed the Tribunal to determine if long term capital gain credited to the profit and loss account can be added a second time to the book profit under section 115JB of the Income Tax Act, 1961. The Tribunal found potential double addition due to inclusion of profit on sale of pledged securities in the loss for the year. The issue was set aside for verification. Regarding the authority of the assessing officer to add back a sum written off as irrecoverable, no such addition was made in the assessment order. The Tribunal dismissed this ground, partially allowing the assessee's appeal. The Tribunal provided detailed analysis and directions for further verification by the Assessing Officer. Case-Laws Income Tax Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381964