Amount withdraw from general reserved for meeting of obligation towards employees benefits, liability on account of obligation as an employer is to be considered for book profit , however it is for the assessee to explain how the amount are not debited in the P& Loss account but nevertheless need to be excluded . (AY. 2006 – 2007 , 2008-2009)
Dy. CIT v. Mcnally Bharat Engineering Co. Ltd. (2018) 191 TTJ 822 (Kol.)(Trib.)
115JB : Book profits -Amount with drawn form general reserve is to be considered while arriving at book profit.