Applicability of MAT section 115JB to the assessee being a ...

MAT u/s 115JB Deemed Inapplicable to Banking Company for 2010-11; No High Court Support for Revenue.

December 24, 2019

Case Laws Income Tax AT

Applicability of MAT section 115JB to the assessee being a Banking Company - there is not a single decision of the Jurisdictional High Court or even of any other Hon’ble High Court which is in favour of the Revenue on this issue - the provision of section 115JB was not applicable in the case of the assessee being a Banking company for the year under consideration, i.e. A.Y. 2010-11

View Source

← Previous Next →

Applicability of MAT section 115JB to the assessee being a ...

MAT u/s 115JB Deemed Inapplicable to Banking Company for 2010-11; No High Court Support for Revenue.

December 24, 2019

Case Laws Income Tax AT

You may also like:

The core summary is that banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 are not covered...

MAT applicability - Provisions of sec.115JB are not applicable to the banking company - AT

MAT applicability to the assessee Banking Companies u/s 115JB - the provisions of Section 115JB(2) of the Act do not apply to the Banking companies.

Revision u/s 263 - MAT - assessment of the prior period income’s assessment for the purpose of sec.115JB computation as per the scheme of settlement of case - once the...

ITAT determined MAT provisions under s.115JB were inapplicable to electricity companies governed by specific statutes before the 2013 amendment, regardless of...

Book adjustments u/s 115JB - Insurance company - Minimum alternate tax (MAT) - these companies cannot be treated differently for the purpose of sec. 115JB - provisions...

MAT applicability u/s 115JB - Deemed company - that definition includes the corporation but provision of section 115JB deals only charge of tax of a company and it...

Applicability of exemption notification - Construction services - services to GDA, U.P. Jal-Nigam and other Government Authorities - construction of 33 and 11 KVA...

Deemed dividend u/s 2(22) - money lent to the assessee was received in the ordinary course of business for fulfillment of business supply through consolidated...

HC affirmed tax authority's adjustment of AY 2010-11 refund against pre-existing tax liabilities of corporate debtor. Resolution applicant's claim to refund rejected on...

If at all the A.O wanted to adopt the cost of the asset as recorded in the books of the previous owner, he could have done so when computing the capital gains for the...

Computation of book profit u/s 115JB - MAT - refund claim of excise duty (CENVAT) being a capital receipt - The Tribunal allowed the claim, recognizing the refund as a...

Applicability of Section 115JB on banking Company - Scope of amendment in 115JB by Finance Act, 2012 - 115JB as it stood prior to its amendment by virtue of Finance Act,...

When the insurance companies, banking companies and electricity generation and distributions companies are treated in the same class as per the provisions of sec. 211 of...

MAT - Computation of book profits u/s 115JB - AO sought to tax under MAT an amount being remission of liability of Bank - once this amount has been disclosed in the P&L...

Quick Updates: