Dismissing the appeal of the revenue the Court held that ,lease equalization charges can be deducted while computing book profit and also provisions for non-performing assets are liable to be adjusted while computing book profit
CIT v. MGF India Ltd. (2018) 254 Taxman 362/ 171 DTR 434/ 308 CTR 186 (Delhi) (HC)/CIT v. Motor & General Finance Ltd (2018) 254 Taxman 362 / 171 DTR 434/ 308 CTR 186 (Delhi) (HC)
S. 115JB : Book profit – lease equalization charges can be deducted while computing book profit – Provisions for non-performing assets are liable to be adjusted while computing book profit