https://www.taxtmi.com/caselaws?id=779779 ITAT DELHI held that the AO erred in adding transfer pricing adjustments to book profits under section 115JB. Relying on SC precedent, the AO's power under s.115J/115JB is limited to examining whether accounts are properly maintained and to adjustments expressly provided in the Explanation; he cannot go behind net profit shown in P&L to impose TP additions absent statutory basis or findings of improper accounting. The AO is directed to exclude any TP adjustment from book profits under s.115JB if such adjustment survives. en-us Wed, 24 Sep 2025 00:00:00 +0530 Mon, 13 Oct 2025 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779779 ITAT DELHI held that the AO erred in adding transfer pricing adjustments to book profits under section 115JB. Relying on SC precedent, the AO's power under s.115J/115JB is limited to examining whether accounts are properly maintained and to adjustments expressly provided in the Explanation; he cannot go behind net profit shown in P&L to impose TP additions absent statutory basis or findings of improper accounting. The AO is directed to exclude any TP adjustment from book profits under s.115JB if such adjustment survives. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779779