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2017 (1) TMI 782 - AT - Income TaxMAT applicability - Requirement to pay taxes on Book Profits as per the provisions of section 115JB - exclusion provided under section 115JB(6) - AO rejected the contention of the assessee and applied the provisions of section 115JB of the Act calculating tax under MAT and levied the same - Held that:- The assessee conceded that the findings of the Ld. CIT (Appeals), that the assessee did not qualify as an entrepreneur or developer as defined under SEZ Act, nor was situated in a unit or Special Economic Zone as defined under the Act, was correct. In view of the above admission made by the Ld. Counsel for the assessee, we find no reason to interfere in the order of the CIT(A), holding that the assessee is not covered under the exclusionary provisions of section 115JB(6) of the Act, and is thus liable to pay tax on its Book Profits as per the provisions of section 115JB of the Act. We therefore uphold the order of the Ld. CIT (Appeals) on this ground, and dismiss the ground raised by the assessee.
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