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Income Tax - Highlights / Catch Notes

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Revision u/s 263 by CIT - capital gain computation - book profit ...

Income Tax

September 7, 2022

Revision u/s 263 by CIT - capital gain computation - book profit computation u/s. 115JB - Every loss of Revenue as a consequence of an order by the AO cannot be treated as prejudicial to the interest of the Revenue. - AT

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  3. Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

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  8. 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...

  9. 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...

  10. Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

  11. 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...

  12. MAT computation u/s 115JB - Bad and doubtful debts inclusion to the book profits for computation of MAT liability u/s 115JB - Whether the ITAT has committed the gross...

  13. MAT computation - assessee’s interest income and profit on sale of Mutual Funds would not form part of the computation of ‘book profits’ u/s 115JB - AT

  14. MAT - determination of Book-Profits u/s 115JB vis-à-vis loss suffered by the assessee on loss on investments - when gains on sale of investments were to be excluded...

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