https://www.taxtmi.com/caselaws?id=284167 The Tribunal upheld the addition of the provision for bad debts to the book profit under section 115JB, citing that it related to loans and advances falling under the amended clause (i) of Explanation 1. The levy of interest under section 234B was upheld due to the Assessee filing the return post-amendment. However, the penalty under section 271(1)(c) was deleted as the Tribunal found no concealment of income, emphasizing a distinction between quantum and penalty proceedings. en-us Thu, 18 Aug 2016 00:00:00 +0530 Tue, 05 Nov 2019 09:45:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284167 The Tribunal upheld the addition of the provision for bad debts to the book profit under section 115JB, citing that it related to loans and advances falling under the amended clause (i) of Explanation 1. The levy of interest under section 234B was upheld due to the Assessee filing the return post-amendment. However, the penalty under section 271(1)(c) was deleted as the Tribunal found no concealment of income, emphasizing a distinction between quantum and penalty proceedings. Case-Laws Income Tax Thu, 18 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284167