https://www.taxtmi.com/caselaws?id=30568 The Court ruled in favor of the assessee, holding that the book profit under section 115J should not be increased by the T.D.S. amount as it was not debited to the Profit and Loss Account in accordance with the Companies Act. The Court emphasized that adjustments to net profit should only be made as specified in the Explanation to section 115J, and legislative amendments were necessary for any changes. The Revenue's argument to include the T.D.S. amount was rejected, and the Court disposed of the Reference with no costs awarded. en-us Tue, 22 Apr 2008 00:00:00 +0530 Thu, 04 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30568 The Court ruled in favor of the assessee, holding that the book profit under section 115J should not be increased by the T.D.S. amount as it was not debited to the Profit and Loss Account in accordance with the Companies Act. The Court emphasized that adjustments to net profit should only be made as specified in the Explanation to section 115J, and legislative amendments were necessary for any changes. The Revenue's argument to include the T.D.S. amount was rejected, and the Court disposed of the Reference with no costs awarded. Case-Laws Income Tax Tue, 22 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30568