https://www.taxtmi.com/caselaws?id=402821 The court ruled in favor of the appellant on all substantial questions of law, quashing the tribunal's decision and allowing the appeal. The appellant successfully argued against the addition of provision for bad and doubtful debts to net profit, citing retrospective amendments and demonstrating negative book profits even after adjustments. Additionally, the court agreed that the indirect expenditure disallowed under section 14A could not be added to net profit for MAT purposes. The tribunal's failure to consider these aspects led to the court ruling in favor of the appellant. en-us Tue, 05 Jan 2021 00:00:00 +0530 Wed, 03 Mar 2021 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402821 The court ruled in favor of the appellant on all substantial questions of law, quashing the tribunal's decision and allowing the appeal. The appellant successfully argued against the addition of provision for bad and doubtful debts to net profit, citing retrospective amendments and demonstrating negative book profits even after adjustments. Additionally, the court agreed that the indirect expenditure disallowed under section 14A could not be added to net profit for MAT purposes. The tribunal's failure to consider these aspects led to the court ruling in favor of the appellant. Case-Laws Income Tax Tue, 05 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402821