https://www.taxtmi.com/caselaws?id=462355 ITAT Delhi remanded the case to AO for fresh consideration on exemption u/s 10(38) after verifying STT payment status. The tribunal deleted disallowance of provision for standard assets, following coordinate bench precedent that Rule 5(a) lacks enabling mechanism for such adjustments to disclosed profits. AO was directed to re-compute book profit u/s 115JB with proper reasoning and opportunity for assessee to be heard before making adjustments. en-us Mon, 08 Jan 2024 00:00:00 +0530 Sat, 14 Jun 2025 18:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462355 ITAT Delhi remanded the case to AO for fresh consideration on exemption u/s 10(38) after verifying STT payment status. The tribunal deleted disallowance of provision for standard assets, following coordinate bench precedent that Rule 5(a) lacks enabling mechanism for such adjustments to disclosed profits. AO was directed to re-compute book profit u/s 115JB with proper reasoning and opportunity for assessee to be heard before making adjustments. Case-Laws Income Tax Mon, 08 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462355