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Income Tax - Highlights / Catch Notes

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Addition to the book profit u/s.115JB being Provision for NP and ...

Income Tax

May 31, 2016

Addition to the book profit u/s.115JB being Provision for NP and Provision for Dimunition in value of investments - the diminution and appreciation in the value of investment unless it is not permanent in nature should not be considered - AT

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  3. MAT computation - exclusion of income of SEZ unit while computing Book Profit u/s 115JB - book profit computed under section 115JB will not include income of SEZ Unit - AT

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  6. Unascertained liability cannot be excluded in the provision of gratuity for the computation of book profit under section 115JB - HC

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  9. MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

  10. 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

 

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