Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Page of 4801
Press 'Enter' after typing page number.
861 to 880 of 96001 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
MAT book-profit computation under section 115JB does not permit...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory computation rules.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
MAT book-profit computation under section 115JB does not permit adding back expenditure disallowed under section 14A merely because it relates to exempt income. The Special Bench ruling in Vireet Investment establishes that section 14A disallowance is not an adjustment to book profit. Explanation 1 to section 115JB(2) exhaustively specifies permissible additions and does not include demerger expenditure disallowed under section 35DD in the regular tax computation. Consequently, neither the section 14A disallowance nor the section 35DD disallowance is added back while computing MAT book profit.
MAT book-profit computation under section 115JB does not permit adding back expenditure disallowed under section 14A merely because it relates to exempt income. The Special Bench ruling in Vireet Investment establishes that section 14A disallowance is not an adjustment to book profit. Explanation 1 to section 115JB(2) exhaustively specifies permissible additions and does not include demerger expenditure disallowed under section 35DD in the regular tax computation. Consequently, neither the section 14A disallowance nor the section 35DD disallowance is added back while computing MAT book profit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
