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2015 (2) TMI 759 - SCH - Income TaxComputation of Minimum Alternate Taxation (MAT) u/s 115JA - whether the assessee would be entitled to reduce the book profits to the extent of profit derived from its CPPs, while computing MAT under Section 115JA? - Held that:- The High Court in [2008 (11) TMI 44 - DELHI HIGH COURT] has correctly relied upon the decision of Tata Iron and Steel Co. Ltd. v. State of Bihar [1962 (9) TMI 49 - SUPREME COURT] to conclude it is quite evident that assessee's CPPs can as a matter of principle derive profits which is in point of fact embedded in the ultimate profit earned on the sale of the final product. - Assessee is entitled to reduce from its book profits, the profits derived from its CPPs, in determining tax payable for the purposes of Section 115JA of the Act. - Decided in favour of assessee.
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