Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2013 Year 2013 This

MAT - Adjustment of book profit - When the asset has been ...

Case Laws     Income Tax

March 7, 2013

MAT - Adjustment of book profit - When the asset has been discarded and dismantled, then in the absence of physical existence of the useful assets, mere retention of the assets in the books of account would not entitled for any depreciation even under the provisions of Companies Act. - AT

View Source

 


 

You may also like:

  1. 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...

  2. MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

  3. Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB...

  4. MAT - Adjustments to Book Profit - CIT(A) failed to consider the binding precedent and allowed the adjustment beyond what is provided in Explanation to Section 115JB by...

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

  6. 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...

  7. 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...

  8. MAT - adjustment - adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB

  9. Adding back transfer pricing adjustment to income assessed u/s 115JB (MAT) - AO erred in adding back the transfer pricing adjustment of the book profits u/s 115JB - AT

  10. 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...

  11. Minimum alternate tax (MAT) - profit from sale of agricultural land, which is not a “Capital Asset”, cannot be included for the purpose of computing book profit u/s 115JB - AT

  12. MAT computation - Adjustments u/s 115JB - reduction of debenture redemption reserve - the liability, for the discharge of which the profits are being set aside, is in...

  13. 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...

  14. 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...

  15. Exemption u/s 14A read with Rule 8D - disallowance of expenditure attributable to exempt income from partnership firm profits - correctly invoked by AO after recording...

 

Quick Updates:Latest Updates