https://www.taxtmi.com/caselaws?id=286702 The ITAT upheld the deletion of additions on account of upward adjustment of international transactions, provision for slow-moving/obsolete stock, and provision for warranties. Deductions for TDS paid and provision reversed were allowed. The validity of the assessment order challenge was dismissed. However, deductions for provisions written back were not allowed under Section 115JB. The addition of provision for slow-moving/obsolete stock to book profit under Section 115JB was upheld. The ITAT largely dismissed the assessee's appeal, emphasizing consistent accounting practices and the need for adequate proof for claims. en-us Wed, 29 Aug 2018 00:00:00 +0530 Thu, 12 Mar 2020 07:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286702 The ITAT upheld the deletion of additions on account of upward adjustment of international transactions, provision for slow-moving/obsolete stock, and provision for warranties. Deductions for TDS paid and provision reversed were allowed. The validity of the assessment order challenge was dismissed. However, deductions for provisions written back were not allowed under Section 115JB. The addition of provision for slow-moving/obsolete stock to book profit under Section 115JB was upheld. The ITAT largely dismissed the assessee's appeal, emphasizing consistent accounting practices and the need for adequate proof for claims. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286702