https://www.taxtmi.com/caselaws?id=800644 Reversal of a general provision for standard assets, recorded as a negative expense in the profit and loss account and reduced in taxable-income computation, requires factual verification to prevent a second tax adjustment where there is no net tax effect. Book profit under Section 115JB should not include a further adjustment for a provision for forfeiture of security deposit that the taxpayer has already added back suo motu. Taxable income and book profit require recomputation after verifying the underlying accounting and tax treatment, without duplicate additions. en-us Mon, 13 Jul 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800644 Reversal of a general provision for standard assets, recorded as a negative expense in the profit and loss account and reduced in taxable-income computation, requires factual verification to prevent a second tax adjustment where there is no net tax effect. Book profit under Section 115JB should not include a further adjustment for a provision for forfeiture of security deposit that the taxpayer has already added back suo motu. Taxable income and book profit require recomputation after verifying the underlying accounting and tax treatment, without duplicate additions. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800644