https://www.taxtmi.com/caselaws?id=62353 The appeal filed by the Revenue was allowed, emphasizing the strict application of the provisions of s. 115JB for computation of taxable income. The AO's decision to disallow the deduction of unabsorbed depreciation and only allow the deduction of carried forward business loss was upheld. The Tribunal set aside the CIT(A)'s order and restored the AO's decision, clarifying that only the lesser amount of carried forward loss or unabsorbed depreciation can be deducted under s. 115JB. The applicability of MAT provisions does not depend on the company's ability to declare dividends under company law. en-us Mon, 01 Sep 2008 00:00:00 +0530 Tue, 05 Nov 2013 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62353 The appeal filed by the Revenue was allowed, emphasizing the strict application of the provisions of s. 115JB for computation of taxable income. The AO's decision to disallow the deduction of unabsorbed depreciation and only allow the deduction of carried forward business loss was upheld. The Tribunal set aside the CIT(A)'s order and restored the AO's decision, clarifying that only the lesser amount of carried forward loss or unabsorbed depreciation can be deducted under s. 115JB. The applicability of MAT provisions does not depend on the company's ability to declare dividends under company law. Case-Laws Income Tax Mon, 01 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62353