MAT Calculation Upheld: Doubtful Debt Provision Validated and Interest Levy Rejected Under Section 115JB and 234A

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....ITAT adjudicated a tax dispute involving MAT computation and interest levy. The tribunal held that the assessee's provision for doubtful debts, which was reduced from gross trade receivables and shown net in the balance sheet, constitutes a legitimate write-off not prohibited under Section 115JB. The tribunal found no legal basis for interest levy under Section 234A, as the return was filed before the statutory due date. Consequently, the tribunal allowed the assessee's appeal, eliminating the interest charge and validating the accounting treatment of doubtful debt provisions.....