https://www.taxtmi.com/caselaws?id=308939 The Tribunal ruled that no adjustment for prior period expenses of Rs. 46,64,504/- was necessary in computing book profits under Section 115JB of the Income Tax Act. The appeal was partially allowed in favor of the assessee, emphasizing that prior period expenses should be included in the net profit calculation as per relevant accounting standards and Schedule VI of the Companies Act. The decision was issued on 21/01/2016. en-us Thu, 21 Jan 2016 00:00:00 +0530 Fri, 04 Aug 2023 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308939 The Tribunal ruled that no adjustment for prior period expenses of Rs. 46,64,504/- was necessary in computing book profits under Section 115JB of the Income Tax Act. The appeal was partially allowed in favor of the assessee, emphasizing that prior period expenses should be included in the net profit calculation as per relevant accounting standards and Schedule VI of the Companies Act. The decision was issued on 21/01/2016. Case-Laws Income Tax Thu, 21 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308939