Assessee can adjust prior period expenses while computing book profit u/s. 115JA

HIGH COURT OF MADRAS Tamil Nadu Cements Corporation Ltd. V/s. Joint Commissioner of Income-tax TC(A). No. 1123 of 2005 June 5, 2012 JUDGMENT Mrs. Chitra Venkataraman, J. – The assessee has preferred the appeal as against the order of the Income Tax Appellate Tribunal relating to assessment year 1997-98. The above Tax Case (Appeal) was admitted on the following substantial question of law:- “Whether the Tribunal was right in holding that for the purpose of computation under Section 115JA of the Act, the prior years expenses should not be deducted since the same was ...