Home Highlights August 2016 Year 2016 This

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1. MAT computation - adding back Rent equalisation reserve to the book profits - AS 19 is not applicable to lease of immovable property. - AO rightly added back the rent...

2. MAT Computation - Even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

3. MAT Computation - even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

4. Computation of MAT u/s 115JB - Addition towards delayed payment of gratuity and leave encashment - in computation of book profit only provision for unascertained...

5. 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...

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. Adding back transfer pricing adjustment to income assessed u/s 115JB (MAT) - AO erred in adding back the transfer pricing adjustment of the book profits u/s 115JB - AT

8. MAT computation - amount disallowed under Sec. 14A cannot be added to arrive at the book profit for the purposes of Sec. 115JB - AT

9. MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

10. MAT Computation - Addition to the book profit - no person can be permitted to gain from his own mistake either deliberately or intentionally or otherwise done. Giving a...

11. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

12. 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...

13. Computation of MAT - the contribution to the Molasses reserve fund can be viewed as a provision in nature and it is not an actual liability and the provision created for...

14. 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...

15. Disallowance made u/s.14A of the Act while computing book profit u/s.115JB - actual expenses debited to profit and loss account which are incurred for the purpose of...