Home Highlights November 2010 Year 2010 This

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1. MAT computation u/s 115JB - unabsorbed depreciation adjustment - the brought forward loss or unabsorbed depreciation as per the books and as per the provisions of...

2. MAT - Section 115JB - assessee is trying to compute the brought forward losses under the normal Income-tax Act provisions and not under the Companies Act - not allowed - AT

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

4. Computation of profit u/s 115JB - scope of MAT provisions - inclusion/ exclusion of profits of sick industrial company -Such positive Book-Profits start arising to the...

5. MAT - Book Adjustments - assessee that brought forward business losses and depreciation of the merging companies is a part of the brought forward business loss and...

6. Mat - book adjustment u/s 115JB - Since unabsorbed depreciation as per books is nil for assessment year 2004- 05, it will not be permissible to reduce any amount on...

7. MAT applicability - if either the loss brought forward or unabsorbed depreciation is nil, then the assessee is not allowable any deduction under this clause for...

8. MAT u/s 115JB - assessee is entitled to reduce an amount on account of withdrawal from the provision for ESOP from the taxable book profit in the working of MAT - AT

9. 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

10. 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