https://www.taxtmi.com/caselaws?id=789506 Bad and doubtful debts were required to be added back while computing book profits under Section 115JA because the retrospective amendment covered provisions for diminution in asset value, including such debts. The audit report for deduction under Section 80IA(7) was held to be directory, not mandatory for the relevant period, so its production at the appellate stage did not by itself defeat the deduction claim. The appeal was therefore partly allowed, with the revenue succeeding on the book-profit issue and the assessee succeeding on the audit-report issue. en-us Wed, 01 Apr 2026 00:00:00 +0530 Thu, 09 Apr 2026 08:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789506 Bad and doubtful debts were required to be added back while computing book profits under Section 115JA because the retrospective amendment covered provisions for diminution in asset value, including such debts. The audit report for deduction under Section 80IA(7) was held to be directory, not mandatory for the relevant period, so its production at the appellate stage did not by itself defeat the deduction claim. The appeal was therefore partly allowed, with the revenue succeeding on the book-profit issue and the assessee succeeding on the audit-report issue. Case-Laws Income Tax Wed, 01 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789506