Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
MAT Computation u/s 115JB - The amount of losses incurred by the assessee for the previous year’s 2012-13 and 2011-12 should be set off against the future income in the manner as specified u/s 115 JB - the assessee has rightly reduced the amount of income for the year under consideration from the brought forward losses/unabsorbed depreciation pertaining to the previous year’s 2012-13 and 2011-12.
MAT Computation u/s 115JB - The amount of losses incurred by the assessee for the previous year’s 2012-13 and 2011-12 should be set off against the future income in the manner as specified u/s 115 JB - the assessee has rightly reduced the amount of income for the year under consideration from the brought forward losses/unabsorbed depreciation pertaining to the previous year’s 2012-13 and 2011-12.
Note: It is a system-generated summary and is for quick reference only.
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