<h1>Gujarat High Court: Companies Can Maintain Two Sets of Books Under Schedule VI for MAT Calculation.</h1> Recent judgments by the Gujarat High Court addressed whether companies can maintain two sets of books under Schedule VI of the Companies Act for calculating Minimum Alternate Tax (MAT) under Section 115J. In cases involving two companies, the court ruled that companies could prepare different sets of accounts: one for shareholder approval at the AGM and another for income tax purposes. The court concluded that the Assessing Officer cannot disregard accounts prepared according to the Companies Act, provided they are audited and certified, as seen in the cases involving Arvind Mills Ltd. and Surat Textile Mills Ltd.