MAT computation - book profit as determined u/s. 115JB - ...

Income Tax

December 5, 2018

MAT computation - book profit as determined u/s. 115JB - Consideration of SEZ Income while computing book profit for the purpose of MAT - Merely because assessee has challenged the amendment in the High Court, additions made by AO cannot be deleted.

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MAT computation - book profit as determined u/s. 115JB - ...

Income Tax

December 5, 2018

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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

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

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

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

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

MAT computation - assessee’s interest income and profit on sale of Mutual Funds would not form part of the computation of ‘book profits’ u/s 115JB - AT

Minimum alternate tax (MAT) - profit from sale of agricultural land, which is not a “Capital Asset”, cannot be included for the purpose of computing book profit u/s 115JB - AT

MAT /s 115JB - AO has no jurisdiction to alter the book profit u/s 154 through rectification order in respect of upward adjustment of international transaction.

MAT - adjustment - adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB

MAT computation - amount disallowed under Sec. 14A cannot be added to arrive at the book profit for the purposes of Sec. 115JB - AT

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