<h1>Madras High Court Clarifies MAT Calculation: Book Profit and Unabsorbed Depreciation u/s 115J.</h1> The High Court of Madras addressed two issues concerning Minimum Alternate Tax (MAT) under section 115J. The court evaluated whether the Tribunal was correct in its interpretation regarding the computation of book profit and the treatment of unabsorbed depreciation. The court ruled that when calculating book profit, the net profit in the profit and loss account should not be increased by all items listed in the Explanation to section 115J(1A). Additionally, the court decided that unabsorbed depreciation should not be increased by the amount of income assessed under section 115J, aligning with the Apex Court's ruling.