https://www.taxtmi.com/caselaws?id=765231 The Bombay HC dismissed the revenue's appeal regarding levy of interest under Section 234B on additions made to book profits under MAT for provision of doubtful debts. The court held that where an assessee computed book profits per prevailing law, no interest under Section 234B could be levied when items were retrospectively included in book profit computation through Finance Act 2008 amendments effective from April 1, 2001. The HC noted three coordinate benches had decided identically against the revenue in similar cases, criticizing the department for not disclosing these binding precedents and proceeding with the appeal despite contrary decisions. en-us Wed, 15 Jan 2025 00:00:00 +0530 Mon, 13 Jul 2026 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765231 The Bombay HC dismissed the revenue's appeal regarding levy of interest under Section 234B on additions made to book profits under MAT for provision of doubtful debts. The court held that where an assessee computed book profits per prevailing law, no interest under Section 234B could be levied when items were retrospectively included in book profit computation through Finance Act 2008 amendments effective from April 1, 2001. The HC noted three coordinate benches had decided identically against the revenue in similar cases, criticizing the department for not disclosing these binding precedents and proceeding with the appeal despite contrary decisions. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765231