Mat
This query is : Resolved
09 January 2012
During the assessment proceedings ITO disallowed certain expense and increase the Book Profit to calculate MAT. Whether expense disallowed by the ITO will increased the book profit for calculating the MAT or not. Please reply as soon as possible.
10 January 2012
Such disallowances will be considered only for computing tax under the normal provisions meaning thereby will not be counted to calculate book profit for the purpose of section 115JB of the Income tax Act,1961.
10 January 2012
Sir
Thanks for reply
But can you give the source/evidence so that I can move rectification u/s 154
Thanks for reply
But can you give the source/evidence so that I can move rectification u/s 154
10 January 2012
ITO cannot alter the book profit by making any addition other than the ones specifically mentioned in the Explanation to the said section 115J.
Citation :- Apollo Tyres Ltd. Vs. CIT (2002) 255 ITR 273 (SC).
ITO cannot alter the book profit by making any addition other than the ones specifically mentioned in the Explanation to the said section 115J.
Citation :- Apollo Tyres Ltd. Vs. CIT (2002) 255 ITR 273 (SC).
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