https://www.taxtmi.com/caselaws?id=211529 The court upheld the Tribunal's decision regarding the inclusion of profits eligible for deduction under sections 80IA and 80IB in the computation of "Book Profits" for Minimum Alternate Tax (MAT) levy under section 115JB. The court affirmed that such profits should be included in the calculation of "Book Profits" as section 115JB specifically outlines the computation method, excluding deductions under sections 80IA and 80IB. Additionally, the court confirmed the levy of interest under sections 234B and 234C on "Book Profits" under section 115JB, citing a Supreme Court precedent establishing the applicability of interest for taxes computed under section 115JB. The appeals were dismissed, upholding the Tribunal's decisions. en-us Mon, 10 Jan 2011 00:00:00 +0530 Mon, 19 Mar 2012 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211529 The court upheld the Tribunal's decision regarding the inclusion of profits eligible for deduction under sections 80IA and 80IB in the computation of "Book Profits" for Minimum Alternate Tax (MAT) levy under section 115JB. The court affirmed that such profits should be included in the calculation of "Book Profits" as section 115JB specifically outlines the computation method, excluding deductions under sections 80IA and 80IB. Additionally, the court confirmed the levy of interest under sections 234B and 234C on "Book Profits" under section 115JB, citing a Supreme Court precedent establishing the applicability of interest for taxes computed under section 115JB. The appeals were dismissed, upholding the Tribunal's decisions. Case-Laws Income Tax Mon, 10 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211529