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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

MAT calculation u/s 115JB - it is also not the case of the ...

Case Laws     Income Tax

July 14, 2016

MAT calculation u/s 115JB - it is also not the case of the assessee that the revaluation reserve which has been created is not a mere book adjustment entry but on the contrary has resulted into actual cash inflow and that it represents realized gains - assessee in the garb of issue of bonus shares has distributed the unrealized gains - additions confirmed - AT

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  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. MAT - Addition of debenture redemption reserve in computing Book profit u/s. 115JB - mere fact that the debenture redemption reserve is labeled as a reserve will not...

  5. MAT - computation of book profit u/s 115JB - The claim of the assessee that the starting point of computation of ‘book profit‘ under Sec. 115JB should be the profit as...

  6. MAT computation - adjustment of rent/lease equalization reserve u/s 115JB of the Act - The Assessee contended that the reserve was not covered under Explanation 1(b) or...

  7. MAT computation u/s 115JB - Bad and doubtful debts inclusion to the book profits for computation of MAT liability u/s 115JB - Whether the ITAT has committed the gross...

  8. 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...

  9. 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...

  10. Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

  11. 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...

  12. MAT - Addition being excise subsidy received to the book profits, as a reserve according to Explanation (b) to Section 115JB - Since the reserve was not created by...

  13. Disallowance u/s 36[1](viii] - no reserve was created - appellant submits that the appellant may be permitted now to create such reserve - such non-creation of special...

  14. 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

  15. MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

 

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