No Exemption from MAT as Assessee is a developer not having any unit in a SEZ

Gee City Builders (P) Ltd. Vs The DCIT (ITAT Chandigarh) Conclusion: Assessee was not eligible for exemption from payment of MAT as per the provisions of section 115JB(6), since, admittedly, it did not qualify as a business or services rendered by an entrepreneur or developer in a unit or SEZ as per definition of the said terms in the SEZ Act. Held: Assessee-company dealing in the business of development of housing project units. It filed its return of income. AO framed assessment u/s 153A read with Section 143(3) of the Act and assessed the total income at Rs. 12,74,720/- and the tax payable ...