Minimum alternate Tax (MAT) - Corporation established under DVC ...

Corporation under DVC Act 1948 exempt from Companies Act Section 211(2) and Section 115JB tax on book profits.

August 25, 2018

Case Laws Income Tax AT

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 section 115JB of the Act imposing tax liability on the book profit were not applicable. - Moreover, as per Section 115JC also assessee did not have any alternate minimum tax liability.

View Source

← Previous Next →

Minimum alternate Tax (MAT) - Corporation established under DVC ...

Corporation under DVC Act 1948 exempt from Companies Act Section 211(2) and Section 115JB tax on book profits.

August 25, 2018

Case Laws Income Tax AT

You may also like:

MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of...

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...

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) u/s 115JB - AO directed to make adjustment for the Impairment loss in the Book Profit derived from the activities of a tonnage tax company...

Income Tax: Limit of remuneration to working partners in partnership firms allowed as deduction increased - on first Rs 6,00,000 of book profit or loss, Rs 3,00,000 or...

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...

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...

The Customs, Excise and Service Tax Appellate Tribunal held that the construction services provided by the respondent to the Institute of Chartered Accountants of India...

MAT computation - Book profit u/s 115JB - once the accounts of the company have been scrutinized and certified by statutory auditors and approved by the Company in...

The Income Tax Appellate Tribunal examined the determination of net profits from contract business, rejection of books of accounts, and addition u/s 40(a)(ia) for...

MAT computation - Book Profit - addition of interest on income tax refund to the Net Profit - As there is no dispute on the fact that assessee has offered interest on...

Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB...

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

Addition of provision made for doubtful debts while computing book profit u/s 115JA - Minimum alternate tax (MAT) - Said amount is to be added to the book profit - HC

Quick Updates: