Court Rules on MAT Book Profit Offset Using Clause (iii) of Explanation-1, Section 115JB(2) of Income Tax Act.

MAT - computation of book profits - the claim of the assessee being lower of unabsorbed depreciation and business loss deserves to be set off against the current year book profit in terms of the provisions of clause (iii) of Explanation-1 of Section 115JB(2) - AT .....

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