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Income Tax - Highlights / Catch Notes

Home Highlights February 2018 Year 2018 This

MAT computation - deduction of lease equalization charges while ...

Income Tax

February 24, 2018

MAT computation - deduction of lease equalization charges while computing book profit - we cannot find fault with the assessee debiting lease equalization charges in the AYs in issue, in its profit and loss account. It represents a true and fair view of the accounts, which is a statutory requirement u/s 211(2) of the Companies Act. - HC

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  2. MAT computation - the assessee's lease equalisation charges have to be added to its book profits under section 115JA - AT

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