https://www.taxtmi.com/caselaws?id=294089 The Tribunal remanded the issue to the CIT(A) for re-examination to determine if prior period expenses should be part of the Profit & Loss Account based on relevant provisions and accounting standards for computing book profit under section 115JB. The Tribunal emphasized the necessity of establishing whether such expenses were required in the Profit & Loss Account under the Companies Act before making adjustments. The revenue's appeal was allowed for statistical purposes, highlighting the importance of a comprehensive assessment in this regard. en-us Tue, 29 Dec 2015 00:00:00 +0530 Sat, 20 Mar 2021 08:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294089 The Tribunal remanded the issue to the CIT(A) for re-examination to determine if prior period expenses should be part of the Profit & Loss Account based on relevant provisions and accounting standards for computing book profit under section 115JB. The Tribunal emphasized the necessity of establishing whether such expenses were required in the Profit & Loss Account under the Companies Act before making adjustments. The revenue's appeal was allowed for statistical purposes, highlighting the importance of a comprehensive assessment in this regard. Case-Laws Income Tax Tue, 29 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294089