Dismissing the appeal of the revenue the Tribunal held that provision for diminution in value of investment written off, could not be added to book profit. (AY. 2002-03)
Dy. CIT v. Peerless General Finance and Investment Co. Ltd. (2021) 188 ITD 349 / 85 ITR 1 (SN) (Kol.)(Trib.)
S. 115JB : Book profit-Provision for diminution in value of investment-Written off in books of account-Addition cannot be made. [S. 115JB(2)(i)]