MAT not payable on share income of member of AOP

ACIT Vs M/s Om Metal Infraproject Ltd. (ITAT Jaipur)

Clause (iic) inserted in Explanation 1 to section 115JB by the Finance Act, 2015 is remedial and curative in nature as it was brought in the statute to provide similar benefit to the member of the AOP which was earlier applicable to the partner of the firm, therefore, it is to be reckoned as retrospective. This proposition can be viewed from another angle that, the amending Act had sought to bring parity between similar kind of situation faced by two class

Please become a Premium member. If you are already a Premium member, login here to access the full content.