https://www.taxtmi.com/caselaws?id=771046 ITAT AMRITSAR held that CSR expenditure debited in the profit and loss account, prepared in accordance with the Companies Act 2013 and GAAP, must be taken for computing book profits under section 115JB except for express adjustments listed in that section. The CBDT circular relied upon by the AO does not govern computation of book profits under section 115JB, and the AO lacks power to recompute book profits contrary to the statutory accounts. Decision against revenue. en-us Thu, 15 May 2025 00:00:00 +0530 Mon, 18 Aug 2025 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771046 ITAT AMRITSAR held that CSR expenditure debited in the profit and loss account, prepared in accordance with the Companies Act 2013 and GAAP, must be taken for computing book profits under section 115JB except for express adjustments listed in that section. The CBDT circular relied upon by the AO does not govern computation of book profits under section 115JB, and the AO lacks power to recompute book profits contrary to the statutory accounts. Decision against revenue. Case-Laws Income Tax Thu, 15 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771046