Court Affirms Income Inclusion in Book Profit for MAT; Assessee Fails to Prove Exclusion Under Companies Act Schedule VI.

Court Affirms Income Inclusion in Book Profit for MAT; Assessee Fails to Prove Exclusion Under Companies Act Schedule VI. https://www.taxtmi.com/highlights?id=2858 MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of the company. By very adoption and inclusion of the said income in the profits of the company it has been affirmed that the same had come within the ambits of the "book profit". .... - AT en-us Wed, 08 Feb 2012 17:44:37 +0530 Wed, 08 Feb 2012 17:44:37 +0530 TaxTMI RSS Generator Court Affirms Income Inclusion in Book Profit for MAT; Assessee Fails to Prove Exclusion Under Companies Act Schedule VI. https://www.taxtmi.com/highlights?id=2858 MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of the company. By very adoption and inclusion of the said income in the profits of the company it has been affirmed that the same had come within the ambits of the "book profit". .... - AT Highlights Income Tax Wed, 08 Feb 2012 17:44:37 +0530 https://www.taxtmi.com/highlights?id=2858