https://www.taxtmi.com/caselaws?id=395112 The Karnataka High Court dismissed the appeal brought by the Revenue regarding the computation of book profit under Section 115JB of the Income Tax Act, 1961. The dispute centered on whether a provision for bad and doubtful advances should be included while calculating book profit. The Court upheld the decision of the Income Tax Appellate Tribunal, relying on precedent that no addition should be made to profit if there was a corresponding reduction due to such provisions, and found no substantial legal questions for consideration. en-us Wed, 04 Mar 2020 00:00:00 +0530 Wed, 06 May 2020 06:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395112 The Karnataka High Court dismissed the appeal brought by the Revenue regarding the computation of book profit under Section 115JB of the Income Tax Act, 1961. The dispute centered on whether a provision for bad and doubtful advances should be included while calculating book profit. The Court upheld the decision of the Income Tax Appellate Tribunal, relying on precedent that no addition should be made to profit if there was a corresponding reduction due to such provisions, and found no substantial legal questions for consideration. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395112