Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Minimum Alternate Tax (MAT) - book adjustments - the assessee ...


Reversal of Interest Provision Not Deductible Under MAT Rules for Book Adjustments, Says Court.

June 19, 2014

Case Laws     Income Tax     AT

Minimum Alternate Tax (MAT) - book adjustments - the assessee is not entitled to claim for deduction for the amount of Provision for interest reversed by it and credited to the Profit and Loss account - AT

View Source

 


 

You may also like:

  1. Exemption u/s 14A read with Rule 8D - disallowance of expenditure attributable to exempt income from partnership firm profits - correctly invoked by AO after recording...

  2. HC ruled against levying interest u/s 234B for additions made to book profit under MAT provisions. Court emphasized that multiple Coordinate Benches previously...

  3. The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

  4. TP Adjustment - Eligible International Transaction - safe harbor rules - The court examined the eligibility of international transactions under Rule 10TC of the Income...

  5. The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

  6. MAT u/s 115JB - Reversal of provision for bad debts - Adjustments to Book Profit - the benefit of clause (i) of Explanation 1 to section 115JB (2) will not be available...

  7. Reversal of CENVAT Credit - reversal in the Books of Accounts instead of transfer of the said amount to the electronic ledger is a valid reversal or not - Since the GST...

  8. Adjustment of excess service tax paid with subsequent service tax liability - case of Revenue is that Rule 6 (3) of Service Tax Rules, 1994 do not provide for such...

  9. MAT computation - Book adjustments - Liability of interest on turnover tax - whether an allowable expenditure for computing book profit? - the provisions for interest on...

  10. Import / Export of services - with effect from 20/06/2012 a specific Rule has been prescribed called Place of Provision of Service Rules, 2012. Though these Rules are...

  11. Addition of provision made for doubtful debts while computing book profit u/s 115JA - Minimum alternate tax (MAT) - Said amount is to be added to the book profit - HC

  12. The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

  13. Book profit adjustment - MAT u/s 115JB - provision for retirement benefits – As per this clause (f) of section 43B, the expenses of leave encashment are allowable on an...

  14. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

  15. The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per...

 

Quick Updates:Latest Updates