https://www.taxtmi.com/caselaws?id=234485 The court affirmed the applicability of Section 115JB regarding Minimum Alternative Tax (MAT) and held that it operates independently of Section 80-IB exemptions. Exempted income under Section 80-IB cannot be excluded while computing book profit under Section 115JB. The court allowed the appeal for the assessment year 2002-03, ruling in favor of the appellant on interest levy under Sections 234B and 234C due to retrospective amendment. However, for subsequent years, the court upheld the chargeability of interest as the appellant was aware of the provisions. en-us Tue, 29 Jan 2013 00:00:00 +0530 Mon, 28 Mar 2016 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234485 The court affirmed the applicability of Section 115JB regarding Minimum Alternative Tax (MAT) and held that it operates independently of Section 80-IB exemptions. Exempted income under Section 80-IB cannot be excluded while computing book profit under Section 115JB. The court allowed the appeal for the assessment year 2002-03, ruling in favor of the appellant on interest levy under Sections 234B and 234C due to retrospective amendment. However, for subsequent years, the court upheld the chargeability of interest as the appellant was aware of the provisions. Case-Laws Income Tax Tue, 29 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234485