Provision made for bad and doubtful debts to be included in the ‘Book Profit’ for the purpose of MAT

Court: Mumbai Income-tax Appellate Tribunal Citation: ADIT (Int. Tax) Vs. Bank International Indonesia [2010-TII-85- ITAT-MUM-INTL], Brief- In a recent ruling, the Mumbai Income-tax Appellate Tribunal (“Tribunal”), in the case of ADIT (Int. Tax) Vs. Bank International Indonesia [2010-TII-85- ITAT-MUM-INTL], has held that provision made for doubtful debts will be required to be added back to the net profit as per the profit and loss account while computing the Book Profit for the purpose of determination of Minimum Alternate Tax (“MAT”), subsequent to the amendment to Ex...