Home Highlights December 2015 Year 2015 This

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1. Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

2. Addition of provision made for doubtful debts while computing book profit u/s 115JA - Minimum alternate tax (MAT) - Said amount is to be added to the book profit - HC

3. Minimum alternate tax (MAT) - profit from sale of agricultural land, which is not a “Capital Asset”, cannot be included for the purpose of computing book profit u/s 115JB - AT

4. MAT (Minimum alternate tax) - for the purpose of the book profit, deduction under section 80HHC is to be computed with reference to the book profit and not with...

5. MAT - AO add back the Income-tax paid in Spain while computing book profit u/s. 115JB - only taxes specified in Explanation 2 can be added back while computing book...

6. Minimum Alternate Tax (MAT) u/s 115JB - AO directed to make adjustment for the Impairment loss in the Book Profit derived from the activities of a tonnage tax company...

7. Minimum alternate Tax (MAT) - Corporation established under DVC Act, 1948 - The proviso to sec. 211(2) of the Companies Act, 1956 was not applicable. - the provisions of...

8. MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

9. Book adjustments u/s 115JB - Insurance company - Minimum alternate tax (MAT) - these companies cannot be treated differently for the purpose of sec. 115JB - provisions...

10. Minimum Alternate Tax (MAT) u/s 115JB - interpretation - reduction of exempted income u/s 80-IB from book profit u/s 115JB - not allowed - HC

11. SC dismissed the SLP against the order of HC - The issue involved was penalty on account of adjustments to book profit by AO u/s 115JB - Minimum Alternate Tax (MAT)

12. Tax payment u/s 115JA - Minimum Alternate Tax (MAT) - Whether the Assessing Officer could have made prima facie adjustment and held that minimum alternative tax under...

13. MAT computation - Book adjustments - Liability of interest on turnover tax - whether an allowable expenditure for computing book profit? - the provisions for interest on...

14. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases

15. MAT- Minimum alternate tax - where the assessee had shown receipts on account of prior period adjustment on account of income tax refund and reversal of provision of...