Hi all,
As we all know that for calculation of MAT we are allowed an adjustment for Carry forward loss or unabsorbed depreciation whichever is lower...
Can somebody suggest whether that adjustment is available on year to year basis or on a cumulative basis.
Please quote the relevant case law.
Thanks in advance.
I am very much sure that cummulative loss has to be carry forward and not YoY loss.. I had a very tough task in this matter but have no idea of Case laws
for the mat calculation adjustment is available on cummulative basis . board of studies also taken the same view in the suggested answer of nov 2008 .i am enclosing the same for your reference
hi babita
if you have any supreme court or high court judgement please attach the link
hi...
Na sorry.. both the case laws available with me are of tribunals....
CAclubindia
