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Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Addition made in the book profit u/s 115JB - claim of interest ...

Income Tax

July 7, 2012

Addition made in the book profit u/s 115JB - claim of interest capitalized in earlier years written off during the current year - creation of provision for employee benefits - AT

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  1. 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

  2. Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

  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. Claim of interest expenditure - during earlier years interest was capitalized as work in progress towards acquisition of property - later transaction could not...

  5. 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

  6. Levying MAT u/s 115JB - 100% reduction of the profit u/s. 80IB(10) - while computing the book profit u/s. 115JB appellant had reduced it from book profit and claimed...

  7. MAT computation u/s 115JB - assessee has received excise refund and interest subsidy which have been claimed as capital receipts - But since a receipt is not in the...

  8. MAT - Calculation of book profit u/s 115JB - A.O seems to have acted beyond the provisions laid down in Section 115JB and has made the adjustment to the book profits...

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

  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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