Complete diminution investment Value to be added to book profits while computing MAT

Mumbai bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of  ITO Vs. TCFC Finance Limited (ITA No. 1299/Mum/2009) (Judgement date- 9 March 2011 Assessment Year 2004-05)  held that the provisions of Minimum Alternate Tax (MAT) deals with amount of provision for diminution in the value of any asset and not with the value of asset which remains after diminution. Once provision is made for diminution in the value of any asset, the same has to be added for computing book profit, regardless of the fact whether or not any balance

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