Provision made towards irrecoverability of the debt cannot be said to be a provision for liability and is not required to be added back for the purpose of s 115J — as held by KolHC in ICI India Limited v CIT — In favour of: The assessee.
The AO, while computing the income under s 115J, does not have the jurisdiction to question the correctness of the P&L account prepared by the company and certified by the statutory auditors of the company.
Decided on: 29 September 2011.
The AO, while computing the income under s 115J, does not have the jurisdiction to question the correctness of the P&L account prepared by the company and certified by the statutory auditors of the company.
Decided on: 29 September 2011.
No comments:
Post a Comment