https://www.taxtmi.com/caselaws?id=405415 The High Court ruled in favor of the appellant, quashing the tribunal's decision and emphasizing the eligibility to adjust prior period expenses in computing book profits. The court found the tribunal's remand unjustified as it did not consider the Commissioner of Income Tax (Appeals)'s reasoning, ultimately providing clarity on interpreting relevant provisions and applying Section 115JB in the context of prior period expenses. en-us Thu, 04 Mar 2021 00:00:00 +0530 Wed, 04 Aug 2021 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405415 The High Court ruled in favor of the appellant, quashing the tribunal's decision and emphasizing the eligibility to adjust prior period expenses in computing book profits. The court found the tribunal's remand unjustified as it did not consider the Commissioner of Income Tax (Appeals)'s reasoning, ultimately providing clarity on interpreting relevant provisions and applying Section 115JB in the context of prior period expenses. Case-Laws Income Tax Thu, 04 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405415