https://www.taxtmi.com/caselaws?id=283169 The High Court reversed the Tribunal's judgment, emphasizing the limited jurisdiction of the Assessing Officer in making adjustments to the book profit under Section 115JA. The Court ruled that the Assessing Officer cannot disturb the book profit certified in the Profit & Loss A/c. and upheld the importance of complying with accounting standards and statutory provisions in determining the deemed income of a company. The Court allowed the appeal by the assessee, setting aside the Tribunal's views on the interpretation of depreciation treatment and the treatment of prior period expenses. en-us Thu, 19 Jun 2014 00:00:00 +0530 Wed, 11 Sep 2019 07:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283169 The High Court reversed the Tribunal's judgment, emphasizing the limited jurisdiction of the Assessing Officer in making adjustments to the book profit under Section 115JA. The Court ruled that the Assessing Officer cannot disturb the book profit certified in the Profit & Loss A/c. and upheld the importance of complying with accounting standards and statutory provisions in determining the deemed income of a company. The Court allowed the appeal by the assessee, setting aside the Tribunal's views on the interpretation of depreciation treatment and the treatment of prior period expenses. Case-Laws Income Tax Thu, 19 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283169