Provision made for bad and doubtful debts to be included in the ‘Book Profit’ for the purpose of MAT

Court: Mumbai Income-tax Appellate Tribunal

Citation: ADIT (Int. Tax) Vs. Bank International Indonesia [2010-TII-85- ITAT-MUM-INTL],

Brief- In a recent ruling, the Mumbai Income-tax Appellate Tribunal (“Tribunal”), in the case of ADIT (Int. Tax) Vs. Bank International Indonesia [2010-TII-85- ITAT-MUM-INTL], has held that provision made for doubtful debts will be required to be added back to the net profit as per the profit and loss account while computing the Boo

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