Levying MAT u/s 115JB - 100% reduction of the profit u/s. ...

Income Tax

December 15, 2021

Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed that it was not liable for tax under, this Section - explanation (1) to section 115JB clearly provides what can be adjusted from book profit. Hence, sub-section (5) duly saves the prescription of Explanation (1). Hence, this explanation (5) does not help the assessee to claim that section 80IB deduction permissible under the I.T. Act should be adjusted from book profit - AT

View Source

← Previous Next →

Levying MAT u/s 115JB - 100% reduction of the profit u/s. ...

Income Tax

December 15, 2021

You may also like:

MAT computation - exclusion of income of SEZ unit while computing Book Profit u/s 115JB - book profit computed under section 115JB will not include income of SEZ Unit - AT

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...

MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

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...

Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB...

MAT - Computation of book profits for the purpose of MAT under the provisions of sec.115JB - Assessee has not prepared its accounts in accordance with Part-II & III of...

MAT Computation - computing book profits u/s.115JB - Provision for expenses - All these expenses are in the nature of regular business expenses incurred by the assessee...

MAT - Computation of book profits u/s 115JB - AO sought to tax under MAT an amount being remission of liability of Bank - once this amount has been disclosed in the P&L...

Book profit adjustment - MAT u/s 115JB - provision for retirement benefits – As per this clause (f) of section 43B, the expenses of leave encashment are allowable on an...

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

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

MAT computation u/s 115JB - Adjustments to book profit - excise duty exemptions as capital receipt - the alleged sum of excise duty exemption is a capital receipt not...

MAT - amount of capital subsidy to the book profits while computing the income u/s 115JB is not an appropriation of profits and there is no such debit to the profit and...

MAT computation u/s 115JB - assessee has received excise refund and interest subsidy which have been claimed as capital receipts - But since a receipt is not in the...

Quick Updates: