AO Includes Bank Liability Remission in MAT Computation; Cannot Exclude from Book Profits u/s 115JB.

MAT - Computation of book profits u/s 115JB - AO sought to tax under MAT an amount being remission of liability of Bank - once this amount has been disclosed in the P&L A/c prepared strictly as per provisions of Schedule VI of the Companies Act, the same cannot be excluded for the purpose of computing book profits u/s 115JB - AT .....

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