Dismissing the appeal of the assessee the Court held that ; Artificial increase of profit by assessee by adding back amortization and depreciation in SLR investment so as to arrive higher amount of profit for claiming deduction under section 36(1)(viii) was unjustified. ( AY.2012-13)
Pragathi Krishna Gramin Bank. JCIT (2018) 256 Taxman 349 (Karn)( HC)
S. 36(1)(viii) : Eligible business – Special reserve -Artificial increase of profit by assessee by adding back amortization and depreciation in SLR investment so as to arrive higher amount of profit for claiming deduction under section 36(1)(viii) was unjustified.