MAT Credit & Book Profit: Section 115JB Explained

Computation of book profit & MAT credit u/s 115JB of the Income Tax Act

Quick Summary

This Income Tax Appellate Tribunal case clarifies that Section 14A of the Income Tax Act, concerning the disallowance of expenditure in relation to exempt income, cannot be applied if no exempt income (like dividends) has been received or is receivable. Consequently, any addition related to MAT credit under Section 115JB, which is consequential to the disallowance under Section 14A, is also dismissed when no exempt income exists.

Court :
ITAT Hyderabad

Brief :
This appeal of Revenue is directed against the order of the CIT(A)-4, Hyderabad dated 28.09.2018 pertaining to A.Y. 2014-15.

Citation :
ITA No. 2291/Hyd./2018

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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