MAT computation - exclusion of revenue generated from sale of ...

Case Laws Income Tax

September 3, 2019

MAT computation - exclusion of revenue generated from sale of agriculture land from the book profit - In the absence of any specific definition as to what constitutes “revenue” under the Act, the normal meaning attributable (having regard to the rule of ejusdem generis, with respect to the expression “rent” used) would necessarily mean any form of income derived from the asset i.e. land which in turn pre-supposes its existence in the hands of assessee.

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MAT computation - exclusion of revenue generated from sale of ...

Case Laws Income Tax

September 3, 2019

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