Computation of book profit - MAT u/s 115JA - on mere fact that ...

Court Clarifies Prior Period Expenses Must Be Included in Book Profit Calculation for MAT u/s 115JA.

July 2, 2012

Case Laws Income Tax HC

Computation of book profit - MAT u/s 115JA - on mere fact that the assessee had shown its prior period expenses in the extra ordinary items separately, did not mean the net profit was arrived at de hors these items. - HC

View Source

← Previous Next →

Computation of book profit - MAT u/s 115JA - on mere fact that ...

Court Clarifies Prior Period Expenses Must Be Included in Book Profit Calculation for MAT u/s 115JA.

July 2, 2012

Case Laws Income Tax HC

You may also like:

MAT - Rectification of mistake - Deduction of prior period items from book profit - section 115JA - HC

HC held that prior period expenses crystallized in the current financial year must be considered while computing book profits under MAT u/s 115JA. The Tribunal's...

MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the...

Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

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

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...

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...

MAT - Book Profit - Deemed income relating to certain companies u/s 115JA - addition of amount towards provision for doubtful advance to the book profit - The Tribunal...

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...

Prior period expenses adjustment against the prior period income - once the prior period income is held to be taxable, the prior period expenditure also should be...

Book profit adjustment - MAT u/s 115JB - provision for retirement benefits – As per this clause (f) of section 43B, the expenses of leave encashment are allowable on an...

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

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...

The HC upheld that LTCG exempt u/s 10(38) should be included in book profits for MAT computation u/s 115JB. However, proviso to s.10(38) cannot be read to include exempt...

Quick Updates: