The Assessing Officer while computing the income under S. \u00a0115J\u00a0of the\u00a0 Act, has power to examine whether the books of account are certified by the authorities under the Companies Act and the AO has \u00a0limited power of making increase and deductions as provided in the Explanation to S. \u00a0115J. The provisions of S. 115J or S .115JB are pari materia Accordingly, allowing the appeal, of the revenue the Court held that the CIT (A) and the Tribunal were not justified in deleting the addition made on account of prior period expenditure while computing the book profits under S. 115JB of the Act . (AY.2003-04)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 115JB : Book profit – Prior period expenditure not deductible \u2014 Assessing Officer has limited power to make changes \u2014 Deletion of addition was held to be not justified . [ S.115J ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-12653","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3i5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12653"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12653\/revisions"}],"predecessor-version":[{"id":16515,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12653\/revisions\/16515"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}