2004 (2) TMI 694

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....ushya Sitharaman JUDGMENT A. S. Venkatachalamoorthy, J. The assessee had filed his return showing an income of Rs. 16,33,760 and the same was processed under s. 143(1)(a) of the IT Act and an intimation, accepting the income returned, was sent by the Revenue. Thereafter, the said intimation was rectified by the AO by adding a sum of Rs. 5,93,514 shown as provision for bad and doubtful deb....

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.... (b) Whether, on the facts and in the circumstances of the case, the Tribunal ought to have appreciated that the provision was towards specific debts and it is not a contingent liability and hence not includible in book profit computed under s. 115J? (c) Whether on the facts and in the circumstances of the case the Tribunal was right in holding that addition was a prima facie error r....