Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
Income Tax : Section 115BAA offers eligible domestic companies a concessional tax structure with a fixed effective rate. The trade-off is the l...
Income Tax : The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary ...
Income Tax : The framework clarifies that companies must pay MAT where normal tax liability is lower than 15% of book profit. It establishes MA...
Income Tax : Explains mandatory filing of Form 66 for companies liable to MAT and the requirement of CA certification. Highlights consequences ...
Corporate Law : The Budget exempts non-residents paying tax on a presumptive basis from MAT while offering targeted income tax holidays. These mea...
Income Tax : In order to attract fresh investment in manufacturing and provide boost to 'Make-in India' initiative of the Government, another p...
Income Tax : The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on vario...
Income Tax : Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for ...
Income Tax : Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provision...
Income Tax : The Calcutta High Court held that Section 115JB was not applicable to Assessment Year 2011-12 as it became effective only from Ass...
Income Tax : Tribunal held that the estimated disallowance under Section 14A should be restricted and should not form part of book profits, fol...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
Income Tax : ITAT Mumbai held that disallowance computed under Section 14A cannot be directly added while computing book profits under Section ...
Income Tax : ITAT Delhi held that MAT provisions under Section 115JB cannot apply once a company validly opts for concessional taxation under S...
Company Law : ROC Kanpur's order dated 10/10/2025 imposes a ₹175,450 penalty on Haiderpur Fertilizer Producer Company and its five directors f...
Income Tax : Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option ...
Income Tax : Details of the amount required to be increased or decreased in accordance with sub-section (2A) of section 115JB- [Applicable only...
Income Tax : Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB...
Income Tax : CBDT press release on Issues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounti...
ACIT Vs Genus Electrotech Limited (ITAT Delhi) Held that sales tax incentive subsidy and excise duty incentive are in the nature of capital receipts and thus not chargeable to tax as regular income as well as income u/s 115JB for computation of book profit. Facts- In the order u/s 154, AO noted that assessee had […]
ITAT held that no disallowance of expenses can be made in respect of exempt income by invoking the provisions of s. 14A of the Act r/w Rule 8D of the Rules while computing book profit u/s. 115JB of the Act.
MAT credit u/s. 115JA cannot be denied on Surcharge, education cess and additional surcharge – secondary and higher education cess
Prior period expenses charged to profit and loss account cannot be deducted from profit of year for computing book profit under Section 115JB
DCIT Vs A.D. Hydro Power Ltd. (ITAT Delhi) ITAT held that Carbon Credits is capital receipt not exigible to tax under normal provisions of the Act and also while computing the book profits under Section 115JB of Income Tax Act, 1961. FULL TEXT OF THE ORDER OF ITAT DELHI 1. These appeals are filed by […]
Tega Industries Limited Vs DCIT (ITAT Kolkata) Assessee has contended that disallowance under section 14A ought not to have been considered for computing the book profit under section 115JB of the Act, we find merit in the assessee’s contention. Special Bench of Delhi Tribunal in the case of ACIT –vs.- Vireet Investment Pvt. Limited (165 […]
MAT or minimum alternative tax refers to a tax paid to by a company in advance. We should note that companies must pay tax according to the provisions of the income tax act, the profit and loss account is calculated as per companies act,2013. So prior to MAT what happened was; companies having profits used […]
Minimum Alternative Tax (Section 115JB) MAT Stands for Minimum Alternative Tax, he objective of introduction of MAT is to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay Any tax due to various tax concessions and incentives provided under […]
ITAT hold that the provisions of sec.115JB are not applicable to a banking company i.e. the assessee herein also. Having held that the provisions of sec.115JB are not applicable to the assessee, we are of the opinion that grounds No.19 to 22 need no adjudication at this stage.
Sunrise Biscuit Co. Pvt. Ltd. Vs ITO (ITAT Gauhati) VAT subsidy received by the Assessee – subsidy received for substantial expansion of the undertaking – subsidy is capital in nature – capital subsidy liable to be excluded from the computation of books profit Facts- The assessee has received subsidy of INR 8,78,84,902/- from the Industrial […]
