No deviation in Book profit u/s 115JB permitted from profit & loss A/c except permissible adjustments

Brief of the Case ITAT Bangalore held In the case of M/s B & B Infotech Ltd. vs. ITO that once P&L A/c is admittedly prepared as per Schedule VI of the Companies Act, then neither the AO has any power to tinker with it nor the assessee is permitted to claim exclusion or inclusion of any item of income or expenditure as the case may be, for the purpose of computing book profits u/s 115JB except the permissible adjustment provided under the Explanation to sec.115JB itself. In the given case, it is not disputed that this amount does not fall in the ambit of any of the clauses of Explanati...