Try this
SELECT
DateAppr,
TimeAppr,
TAT,
LaserLTR,
Permit,
LtrPrinter,
JobName,
JobNumber,
JobDesc,
ActQty,
(ActQty-LtrPrinted) AS L,
(ActQty-QtyInserted) AS M,
((ActQty-LtrPrinted)-(ActQty-QtyInserted)) AS N
FROM
[test].[dbo].[MM]
WHERE
DateDropped = 0
AND (
(ISNULL(@JobsOnHold, 0) = 1 AND DateAppr >= 0)
OR
(ISNULL(@JobsOnHold, 0) != 1 AND DateAppr != 0)
)