Home Highlights August 2015 Year 2015 This

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1. Computation of MAT tax liability - the tax liability arising under normal provisions of the Act and u/s 115JB of the Act should be compared before allowing rebate u/s 88E - AT

2. Rebate u/s 88E – deduction of STT paid from the income tax computed u/s 115JB at book profit - Rebate u/s 80E available to the assesse - AT

3. The assessee is liable for rebate under section 88E, even if the assessment is to be made after computing the book profit under section 115JB - AT

4. Rebate u/s 88E of the STT paid while working out the tax under the provisions of Minimum Alternate Tax (MAT) as specified u/s 115JB - rebate u/s 88E had to be allowed...

5. MAT - deduction of Rebate u/s 88E while calculating the tax liability of the assessee for minimum alternative tax u/s 115JB - when the total income is assessed and the...

6. Rebate u/s 88E - adjustment with MAT u/s 115JB - rebate as exigible under law u/s.88E would have to be allowed irrespective of whether the tax is payable under the...

7. Whether rebate u/s 88E for STT paid has been allowed from tax payable under MAT u/s 115 JB - when the total income is assessed and the tax chargeable is computed, it is...

8. Tax rebate u/s 88E - MAT u/s 115JB - when tax chargeable on such income is arrived at & it is from that tax which is chargeable, the tax paid u/s 88E (STT) is given...

9. Adding back transfer pricing adjustment to income assessed u/s 115JB (MAT) - AO erred in adding back the transfer pricing adjustment of the book profits u/s 115JB - AT

10. Minimum Alternate Tax (MAT) u/s 115JB - interpretation - reduction of exempted income u/s 80-IB from book profit u/s 115JB - not allowed - HC