https://www.taxtmi.com/caselaws?id=431763 The Tribunal ruled in favor of the assessee regarding the addition of the provision for bad debts to book profits under Section 115JB, citing the decision in Vijaya Bank v. CIT. The revenue's appeal on the disallowance under Section 14A added to book profits was dismissed due to the tax effect falling below the threshold set by CBDT Circular. Other issues such as disallowance of depreciation on goodwill, deduction under Section 10AA, disallowance of club expenses, and levy of interest were not extensively discussed, indicating they were not pivotal to the tribunal's decision. en-us Mon, 19 Dec 2022 00:00:00 +0530 Tue, 20 Dec 2022 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431763 The Tribunal ruled in favor of the assessee regarding the addition of the provision for bad debts to book profits under Section 115JB, citing the decision in Vijaya Bank v. CIT. The revenue's appeal on the disallowance under Section 14A added to book profits was dismissed due to the tax effect falling below the threshold set by CBDT Circular. Other issues such as disallowance of depreciation on goodwill, deduction under Section 10AA, disallowance of club expenses, and levy of interest were not extensively discussed, indicating they were not pivotal to the tribunal's decision. Case-Laws Income Tax Mon, 19 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431763