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Income Tax - Highlights / Catch Notes

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Allowability of loss on demerger in the computation of book ...

Income Tax

May 25, 2016

Allowability of loss on demerger in the computation of book profit u/s 115JB - MAT - the observation of the AO that such loss could not be debited to the profit and loss account and ought to have been adjusted against the reserve of the assessee company is not Correct - AT

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  9. MAT - Addition of Book Profits u/s 115JB – Dividend Stripping u/s 94(7) - The Explanation (f) of Section 115JB was clearly applicable in case of the appellant - AT

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