https://www.taxtmi.com/caselaws?id=463775 ITAT MUMBAI held that the addition to book profit under s.115JB for re-characterising depreciation as an "impairment" was incorrect and upheld the CIT(A) order deleting the addition. The assets had been disposed of as scrap and no provision for diminution existed; the loss was a realized difference between opening WDV and scrap proceeds, charged to P&L. AS-10 governs disposal treatment, so the amount is not a provision. Decision against the revenue. en-us Fri, 30 Jan 2015 00:00:00 +0530 Tue, 16 Sep 2025 08:45:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463775 ITAT MUMBAI held that the addition to book profit under s.115JB for re-characterising depreciation as an "impairment" was incorrect and upheld the CIT(A) order deleting the addition. The assets had been disposed of as scrap and no provision for diminution existed; the loss was a realized difference between opening WDV and scrap proceeds, charged to P&L. AS-10 governs disposal treatment, so the amount is not a provision. Decision against the revenue. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463775