Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Section 115JB applied to the assessee because the statute does not require a company to be dividend-paying before book profit taxation can be invoked, and the Tribunal applied strict interpretation to reject exclusion on assumption or presumption. It also distinguished precedents cited for earlier assessment years and held that the amended provision effective from 01.04.2012 governed the matter, so the lower appellate view on MAT computation was affirmed. On MAT credit, the year being an abated assessment under section 153A left the assessment open to fresh computation on regular and incriminating material, so the assessee's claim was maintainable in principle and consequential relief was directed to be recomputed.
Section 115JB applied to the assessee because the statute does not require a company to be dividend-paying before book profit taxation can be invoked, and the Tribunal applied strict interpretation to reject exclusion on assumption or presumption. It also distinguished precedents cited for earlier assessment years and held that the amended provision effective from 01.04.2012 governed the matter, so the lower appellate view on MAT computation was affirmed. On MAT credit, the year being an abated assessment under section 153A left the assessment open to fresh computation on regular and incriminating material, so the assessee's claim was maintainable in principle and consequential relief was directed to be recomputed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
