Bombay High Court Decides Income Tax Appeal Concerning Addition of Provision for Doubtful Debts to Book Profit Under Section 115JA of Income Tax Act. Appeal involved whether a provision for doubtful debts/advances was a reserve under clause (b) of Explanation to Section 115JA and thus required to be added to book profit....
The matter arose from an income tax appeal filed by an assessee company, an export house recognized by the Ministry of Commerce, engaged in export of medicines, bulk drugs, pesticides and agricultural...
