https://www.taxtmi.com/caselaws?id=33344 The High Court upheld the decisions of the CIT (Appeals) and the Income-tax Appellate Tribunal, ruling in favor of the assessee and against the Revenue. It determined that the Assessing Officer's jurisdiction is limited to specific adjustments as per the Explanation to Section 115J, emphasizing that the officer cannot go beyond the net profit shown in the profit and loss account unless explicitly provided for. Consequently, the Court found no error in the deletion of depreciation addition due to a change in depreciation method and the disallowance of depreciation as prior period adjustments, disposing of the reference in favor of the assessee. en-us Fri, 04 Jul 2008 00:00:00 +0530 Wed, 06 May 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33344 The High Court upheld the decisions of the CIT (Appeals) and the Income-tax Appellate Tribunal, ruling in favor of the assessee and against the Revenue. It determined that the Assessing Officer's jurisdiction is limited to specific adjustments as per the Explanation to Section 115J, emphasizing that the officer cannot go beyond the net profit shown in the profit and loss account unless explicitly provided for. Consequently, the Court found no error in the deletion of depreciation addition due to a change in depreciation method and the disallowance of depreciation as prior period adjustments, disposing of the reference in favor of the assessee. Case-Laws Income Tax Fri, 04 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33344