Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (6) TMI 1227 - AT - Income TaxLevy of Minimum Alternative Tax (MAT) u/s 115JB - whether provisions of Minimum Alternative Tax are not applicable to the assessee appellant? - Held that:- No other definition of ‘unit’ under any Central Act has been provided by the assessee and even no case law on this issue have been cited. The ld. counsel for the assessee has given a dictionary meaning of the word ‘Unit’ and submitted that the word ‘Unit’ is not restricted to the units in Special Economic Zone Act, 2005 but is applicable to units at any place. The contention of the assessee has no merit because these are the special provisions provided for exemption to the builders etc. who have raised the construction of units in Special Economic Zone only. Since the assessee has not carried on any business as a Developer in a unit established in Special Economic Zone or Special Economic Zone, therefore, provisions of Section 115JB(6) will not apply in the case of the assessee. CIT(Appeals) gave a specific finding of fact that the assessee is not situated in a unit or Special Economic Zone, therefore, the case of the assessee does not fall under section 115JB(6). Finding of fact recorded by ld. CIT(Appeals) has not been rebutted through any evidence or material on record. Nothing to interfere with the order of ld. CIT(Appeals) in rejecting the claim of the assessee
|