{"id":55651,"date":"2025-07-27T19:59:15","date_gmt":"2025-07-27T14:29:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mahindra-mahindra-ltd-v-cit-city-ii-mumbai-2025-174-taxmann-com-154-bom-hc\/"},"modified":"2025-07-27T19:59:15","modified_gmt":"2025-07-27T14:29:15","slug":"mahindra-mahindra-ltd-v-cit-city-ii-mumbai-2025-174-taxmann-com-154-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mahindra-mahindra-ltd-v-cit-city-ii-mumbai-2025-174-taxmann-com-154-bom-hc\/","title":{"rendered":"Mahindra &#038; Mahindra Ltd. v. CIT City \u2013 II, Mumbai, [2025] 174 taxmann.com 154 (Bom)( HC)"},"content":{"rendered":"<p>Held that the \u00a0Assessing Officer does not have jurisdiction to question correctness of profit and loss account prepared and certified by statutory auditors of assessee-company as having been prepared in accordance with requirements of Parts II and III of Schedule VI to Companies Act &#8211; Held, yes &#8211; Whether Assessing Officer does not have jurisdiction to go behind net profit shown in profit and loss account except to extent provided in Explanation to section 115J . Followed Malayala Manorama Company Ltd.\u00a0v.\u00a0CIT\u00a0 Trivandrum (2008) 169 Taxman 471\/ 300 ITR 251 ( SC) . \u00a0(AY. 1990 -91\u00a0 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115J : Company &#8211; Book profit &#8211;  The AO has no jurisdiction to question the correctness of the profit and loss account prepared and certified by the Chartered Accountant  .[ Companies Act , 1956 ]  <\/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-55651","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-etB","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55651","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=55651"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55651\/revisions"}],"predecessor-version":[{"id":55652,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55651\/revisions\/55652"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}