Mat

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ankush (Querist)
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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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

ankush

ankush (Querist)
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10 January 2012 Sir
Thanks for reply
But can you give the source/evidence so that I can move rectification u/s 154

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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).

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