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TMI Blog2013 (10) TMI 71X X X X Extracts X X X X X X X X Extracts X X X X ..... have been wrongly made by the Assessing Officer and benefit of Section 80HHC has not been granted. 3. For the assessment year in question, the assessee had filed return on 28th November, 1997 declaring "nil" taxable income under the normal provisions. The assessee did not compute taxable income under MAT provisions, i.e., Section 115JA and a specific note was attached that the said provisions were not applicable. 4. The Assessing Officer passed an order under Section 143(1)(a) of the Act making adjustments and computing 30% of the book profit at Rs.4,07,72,346/-. This was made subject matter of challenge in the appellate proceedings but we need not refer to the orders passed as this aspect is not relevant. 5. In the meanwhile, the Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as tax payable by the appellant and hence the imposition of Minimum Alternate Tax on the appellant is clearly illegal and unauthorised by law and must be set aside and quashed. 5. In not directing the disallowance U/s 43 43B of Rs.72,17,146/- to be deleted instead of remanding the matter to the Assessing Officer who does not act in a fair and just manner." 7. Subsequently, an application raising two additional grounds was filed but the said application was rejected by the tribunal by the impugned order. Additional grounds raised but were not entertained read:- "1. On the facts and in the circumstances of the case, the entire amount of MAT sought to be levied and collected is required to be given credit mandatorily and the amount of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is apparent and crystal clear that this issue/question was not raised before the tribunal as the petitioner, who appears, did not want to raise the said contention and issue. The tribunal in the impugned order has specifically recorded as under:- "The grounds of appeal raised by the assessee does (sic) do not challenge the manner of determination of book profits under Section 115JA of the Act." 9. In view of the aforesaid position, we do not think the assessee can now in the fourth appeal, (maintainable only on the ground of substantial question of law arising out of the order of the tribunal) can be allowed and permitted to raise this contention and set the ball rolling back once again to the Assessing Officer, after lapse of several ..... X X X X Extracts X X X X X X X X Extracts X X X X
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