This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Supreme Court rules on deductibility of export profits while computing MAT
Case Law Details
- Case Name
- Ajanta Pharma Ltd. Vs Commissioner of Income Tax-9 (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Court :Supreme Court
Citation :Ajanta Pharma Ltd. (Taxpayer) (Civil Appeal No. 7518 of 2010)
Brief :In a recent ruling Supreme Court (SC) in the case of Ajanta Pharma Ltd. (Taxpayer) (Civil Appeal No. 7518 of 2010) on the issue of deductibility of export profits from the net profit while computing ‘book profit’ for determining minimum alternate tax (MAT) liability under the Indian Tax Law (ITL) ruled that, while computing ‘book profit’, the net profit has to be reduced by the amount of export profits ‘eligible’ for deduction in the computation under the normal provisions of the ITL...
