Home Highlights January 2013 Year 2013 This

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1. Computation of book profit u/s. 115JB - A.O. took the view that the Provision for bonus is a contingent liability and hence, the same is required to be added to the net...

2. Computation of book profit u/s 115JB - MAT - The carbon credit is credited to the Profit & Loss account held to be capital receipts and not exigible to tax - AO directed...

3. 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...

4. 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...

5. MAT computation u/s 115JB - assessee has received excise refund and interest subsidy which have been claimed as capital receipts - But since a receipt is not in the...

6. MAT computation - share of profit from the partnership firm was sought to be excluded while computing the book profits u/s.115JB by treating it as capital receipt - the...

7. 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

8. 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...

9. MAT - computation of book profit u/s 115JB - The claim of the assessee that the starting point of computation of ‘book profit‘ under Sec. 115JB should be the profit as...

10. MAT - adjustment made in the book profit computed U/s 115JB in respect of share of the assessee in the income of the joint venture - whether the share of profit from...

11. 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...

12. MAT computation - re-computation of book profit u/s 115JB - since the assessee has not routed the benefit got out of onetime settlement of loan from the banks through...

13. 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...

14. MAT computation - Working of tax liability on book profit u/s.115JB - receipt of dividend income - Reopening of assessment - AO formed wrong belief that for the purpose...

15. MAT computation - assessee’s interest income and profit on sale of Mutual Funds would not form part of the computation of ‘book profits’ u/s 115JB - AT