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          Income Tax

          MAT - Computation of Book Profits - Additions - Explanation 1 to Section 115JB(2)

          Minimum Alternate Tax (MAT)

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          Book profit adjustments under MAT restore specified add-backs to the profit and loss account, expanding the MAT tax base. Computation of book profit under Section 115JB(2) requires adding back specified debits charged to the profit and loss account: income tax and related charges, specified transaction taxes, transfers to reserves (other than prescribed statutory reserve), provisions for unascertained liabilities and diminution in asset value, subsidiary losses, dividends, depreciation (including on revalued assets), amounts in revaluation reserve on disposal, expenditures relating to exempt or specially taxed income, and notional/actual losses or gains on specified unit transfers.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Book profit adjustments under MAT restore specified add-backs to the profit and loss account, expanding the MAT tax base.

                              Computation of book profit under Section 115JB(2) requires adding back specified debits charged to the profit and loss account: income tax and related charges, specified transaction taxes, transfers to reserves (other than prescribed statutory reserve), provisions for unascertained liabilities and diminution in asset value, subsidiary losses, dividends, depreciation (including on revalued assets), amounts in revaluation reserve on disposal, expenditures relating to exempt or specially taxed income, and notional/actual losses or gains on specified unit transfers.


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