https://www.taxtmi.com/caselaws?id=201411 SC upheld denial of exclusion under clause (i) of the explanation to Section 115JB(2) for amounts transferred from revaluation reserve set off against depreciation. The Court found the assessee had used revaluation-related adjustments to inflate reported profits and enable dividend payments despite real losses if full depreciation were taken. MAT aims to reveal true operating profit and tax such arrangements; since the revaluation reserve did not increase book profits when created, the reduction claimed was correctly rejected by the AO and sustained by the Court. en-us Wed, 05 Jan 2011 00:00:00 +0530 Tue, 26 Aug 2025 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201411 SC upheld denial of exclusion under clause (i) of the explanation to Section 115JB(2) for amounts transferred from revaluation reserve set off against depreciation. The Court found the assessee had used revaluation-related adjustments to inflate reported profits and enable dividend payments despite real losses if full depreciation were taken. MAT aims to reveal true operating profit and tax such arrangements; since the revaluation reserve did not increase book profits when created, the reduction claimed was correctly rejected by the AO and sustained by the Court. Case-Laws Income Tax Wed, 05 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201411