MAT - Income from capital gain - whether should be included for ...

Case Laws Income Tax

December 29, 2015

MAT - Income from capital gain - whether should be included for the purpose of computing Book Profit under Section 115JB? - AO has no power to recompute the book profit and has to rely upon the authentic statements of accounts of the company, the accounts being scrutinized and certified by the statutory auditors though with a qualification - HC

View Source

← Previous Next →

MAT - Income from capital gain - whether should be included for ...

Case Laws Income Tax

December 29, 2015

You may also like:

MAT computation u/s 115JB - Action of AO including the agriculture income for the purpose of MAT is not correct - Firstly, there was no mistake in the original orders...

Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

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

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...

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 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...

Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains)...

MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

Income from other source OR Capital gain - Correct head of income - relinquishing the right acquired under the Agreement by the Assessee - income from relinquishing...

MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

MAT - AO add back the Income-tax paid in Spain while computing book profit u/s. 115JB - only taxes specified in Explanation 2 can be added back while computing book...

Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

The ITAT considered a rectification order u/s 154 regarding MAT computation u/s 115JB on profit from the sale of agricultural land exempt from income tax. The Assessing...

Quick Updates: