MAT computation u/s 115JB - Action of AO including the ...

Assessing Officer Erred in Including Agricultural Income in MAT Calculation u/s 115JB Without Prior Notice.

September 2, 2023

Case Laws Income Tax AT

MAT computation u/s 115JB - Action of AO including the agriculture income for the purpose of MAT is not correct - Firstly, there was no mistake in the original orders passed by the AO as we have seen above, secondly, there was no notice to the assessee before enhancing the income and thirdly, the AO in his zeal of disposing off the rectification application has failed to appreciate and consider the unambiguous provisions wherein the agriculture income is exempt from the book profits for the purposes of computing the MAT liability. - AT

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MAT computation u/s 115JB - Action of AO including the ...

Assessing Officer Erred in Including Agricultural Income in MAT Calculation u/s 115JB Without Prior Notice.

September 2, 2023

Case Laws Income Tax AT

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