2010 (10) TMI 935

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....:SRI.P. BALAKRISHNAN (E) JUDGEMENT Ramachandran Nair J.- All the three appeals are filed by the Revenue against the very same assessee against the orders of the Tribunal for the very same assessment year 1999-2000. In I. T. A. No. 1758 of 2009, the first issue raised is whether the provision for bad debt is to be added in the computation of book profit. Even though the issue stands decide....

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....egard to the disallowance under section 14A of the Act. We have in similar cases held that by virtue of the proviso to section 14A, there is no justification to make reassessment under section 147 for any assessment year prior to 2001-02. Consequently, the Revenue's appeals on this issue are dismissed. One issue arising in I. T. A. No. 1778 of 2009 is the yield to the maturity method of valuation,....

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....section 115JA of the Act. The disallowance in the computation of business income is said to be achieved by introduction of section 14A which is introduced by the Finance Act, 2001. The contention of counsel for the assessee is that going by our decision on section 14A in the assessee's own case for the very same year, no disallowance under section 115JA also is called for, i.e., in the form of add....