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2009 (9) TMI 44 - HC - Income TaxComputation of Book Profit for the purpose of MAT u/s 115JB – Minimum Alternate Tax (MAT) - amount withdrawn from the revaluation reserve and credited to the profit and loss account – Held that - assessee company takes benefit of additional depreciation on account of revaluation of the fixed assets by increasing the revaluation reserve in the relevant assessment year 2000-2001 and consequently, the same definitely has the effect of reducing the net profit for the said Assessment Year. - the amount withdrawn from the revaluation reserve and credited to the profit and loss account is not to be reduced from the net profit as per the profit and loss account unless the book profit had been increased by the amount of the reserve in the year of the creation of such reserve.
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