Reinstatement of employees benefit obligation allowable in Computation of Book Profit U/s. 115JB

During the year under consideration, Assessee adjusted Rs. 1,02,88,421/ – against General Reserve for reinstatement of employee benefit obligation on account of adoption of AS-15 (Revised 2005) “Employee Benefits’. The said amount was claimed under regular provisions and while computing book profit since the expenses are allowable expenditure incurred during the normal course of business. The A.O. did not allow said exclusion in computation of Book Profit u/s 115JB of the Act stating that such downward adjustment is not allowed in the explanation below Sec.115JB(2) of the Act...