MAT - Deduction for provision of bad and doubtful debts while ...

Case Laws Income Tax

October 12, 2021

MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause “C” of Explanation 1 to Section 115JB(2) of the Act. We hold that the issue in dispute falls in Clause (i) of Explanation 1 to Section 115JB(2) of the Act. We are not inclined to make this provision redundant or otiose - we hold that provision for bad and doubtful debts is required to be added back while computing book profits u/s.115JB - AT

View Source

← Previous Next →

MAT - Deduction for provision of bad and doubtful debts while ...

Case Laws Income Tax

October 12, 2021

You may also like:

MAT - Computation of Book profit u/s 115JB - doubtful debts - Since, we have held that provision of doubtful debts is not an allowable deduction while computing income...

MAT computation u/s 115JB - Bad and doubtful debts inclusion to the book profits for computation of MAT liability u/s 115JB - Whether the ITAT has committed the gross...

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...

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...

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 - Provision for bad and doubtful debts are required to be added to book profit as per clause (i) of explanation [1] to subsection [2] of section 115JB - AT

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

Disallowance of deduction claimed u/s 36(1)(vii) was set aside, allowing bad debts relating to non-rural branches without adjusting against provision for bad and...

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

A bank is eligible to claim deduction towards provision for bad and doubtful debts u/s 36(1)(viia), irrespective of whether it has rural or non-rural advances. The...

MAT - Adjustment of bad debts for the purpose of book profits u/s.115JB - the bad debts which is reduced from the asset side of the debts which amounts to actual write...

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

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...

MAT u/s 115JB - Reversal of provision for bad debts - Adjustments to Book Profit - the benefit of clause (i) of Explanation 1 to section 115JB (2) will not be available...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Quick Updates: