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 May 2012 Year 2012 This

MAT - Book profit -- the amount which was never routed through ...

Income Tax

May 1, 2012

MAT - Book profit -- the amount which was never routed through the profit & loss account and never debited to the profit & loss account could not be considered for the purpose of determination of book profits under clause (b) of Explanation 1 to sec.115JB - AT

View Source

 


 

You may also like:

  1. MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

  2. MAT - AO had committed an error in redrawing the profit and loss account by making changes by adding depreciation debited to profit and loss account by the assessee,...

  3. MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

  4. Addition u/s 40A(3) being 20% of the amount paid - assessee was acquiring the land from the various farmers by paying cash to them and debiting it to the capital work in...

  5. Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature...

  6. MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

  7. Computing the book profit u/s 115JB - MAT - additional depreciation arisen as a result of change in the method of depreciation from Straight Line method (SLM) to Written...

  8. MAT computation - adding back Rent equalisation reserve to the book profits - AS 19 is not applicable to lease of immovable property. - AO rightly added back the rent...

  9. 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...

  10. MAT - Computation of book profit u/s 115JB of the Income Tax Act – As the relevant condition have been fully satisfied in the instant case in terms of the assessee...

  11. MAT - amount of capital subsidy to the book profits while computing the income u/s 115JB is not an appropriation of profits and there is no such debit to the profit and...

  12. MAT computation - reduction of least of cash loss or depreciation loss as per books of accounts while computing the book profits u/s 115JB - The assessee has rightly...

  13. Deduction of interest (premium) on Zero Coupon Convertible Bonds(ZCCB) - Disallowances being the proportionate claim of the premium on ZCCBs written off during the...

  14. Penalty u/s 271(1)(c) - MAT - Book profit u/s 115JB - The inclusion or otherwise of the capital gains in the capital reserve account directly without routing it through...

  15. Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

 

Quick Updates:Latest Updates