Case Law Details
Case Name : CIT Vs M/s. Salgaonkar Mining Industries Pvt. Ltd. (Goa High Court)
Related Assessment Year :
Courts :
All High Courts Goa High Court
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Brief of the case
In the case of The Commissioner of Income Tax vs. M/s. Salgaonkar Mining Industries Pvt. Ltd High Court of Goa has held that provision for doubtful debt is not required to add back while arriving book profit u/s 115JA.
Facts of the case
1. Assessee’s income, under the normal provisions of the Act, was less than 30 % of its book profits, the Assessing Officer invoked Section 115JA of the Act and in terms of the explanation therein, added a sum of Rs.20.5 lakhs to the book profits, to compute the income at Rs.2.76 crores. Besides, as the respondent assessee had not computed ...
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