Home Highlights June 2013 Year 2013 This

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1. Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

2. Book adjustments u/s 115JB - Insurance company - Minimum alternate tax (MAT) - these companies cannot be treated differently for the purpose of sec. 115JB - provisions...

3. The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

4. Penalty u/s 271(1)(c) - furnished wrong particulars of its income in terms of profits u/s 115JB - Computation of Minimum Alternate Tax (MAT) - levy of penalty confirmed - AT

5. Minimum alternate Tax (MAT) - Corporation established under DVC Act, 1948 - The proviso to sec. 211(2) of the Companies Act, 1956 was not applicable. - the provisions of...

6. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases

7. Minimum alternate Tax (MAT) - donation paid is allowable expenditure while computing the book profit of the assessee u/s 115JB - AT

8. 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

9. Minimum Alternate Tax (MAT) - Sec.115JB cannot be applied to the banking company. - AT

10. SC dismissed the SLP against the order of HC - The issue involved was penalty on account of adjustments to book profit by AO u/s 115JB - Minimum Alternate Tax (MAT)

11. The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

12. MAT- Minimum alternate tax - where the assessee had shown receipts on account of prior period adjustment on account of income tax refund and reversal of provision of...

13. The issue pertains to the disallowance of excess Minimum Alternate Tax (MAT) credit u/s 115JAA and whether the amount of surcharge and education cess should be reduced...

14. The core summary is that banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 are not covered...

15. Deduction u/s 80-IB - Duty Drawback and DEPB - on the profit from DEPB and Duty Drawback claims, the assessee shall not be entitled to the deductions under Section 80-IB...