https://www.taxtmi.com/highlights?id=86022 HC upheld revision under s.263 regarding treatment of provision for doubtful debts in computing book profits under s.115-JB. AO's acceptance of assessee's claim was mechanical, without examining why provision for doubtful assets was claimed as deduction despite not being debited to provision account. Amount was merely shown as reduction from trade receivables for disclosure, not as written-off debts. Assessee maintained recovery hopes. PCIT's jurisdiction exercise directing re-examination was justified. Tribunal correctly analyzed legal position, finding no illegality in CIT's order. HC found no jurisdictional infirmity, ruling against assessee's appeal. en-us Tue, 25 Feb 2025 08:24:04 +0530 Tue, 25 Feb 2025 08:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=86022 HC upheld revision under s.263 regarding treatment of provision for doubtful debts in computing book profits under s.115-JB. AO's acceptance of assessee's claim was mechanical, without examining why provision for doubtful assets was claimed as deduction despite not being debited to provision account. Amount was merely shown as reduction from trade receivables for disclosure, not as written-off debts. Assessee maintained recovery hopes. PCIT's jurisdiction exercise directing re-examination was justified. Tribunal correctly analyzed legal position, finding no illegality in CIT's order. HC found no jurisdictional infirmity, ruling against assessee's appeal. Highlights Income Tax Tue, 25 Feb 2025 08:24:04 +0530 https://www.taxtmi.com/highlights?id=86022