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Income Tax - Highlights / Catch Notes

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MAT - Exclusion of undisclosed income from the book profit ...

Income Tax

May 27, 2016

MAT - Exclusion of undisclosed income from the book profit computed u/s 115JB - AO has no power to tinker with the accounts of the assessee, which have been prepared in accordance with Part-II of schedule-VI to the Companies Act. - AT

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  9. 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

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