https://www.taxtmi.com/article/detailed?id=1094 Minimum alternate tax provisions must be read as self-contained charging and computational codes that presuppose a positive total income or tax payable; where gross total income is nil due to set-off of current or past losses and allowable deductions cannot be applied, the MAT computation cannot be invoked. The term 'income' for MAT purposes should be strictly interpreted to exclude loss, and broader contributions such as indirect taxes, investment, employment and infrastructure arising from availing tax incentives should be considered when assessing a taxpayer's societal contribution. en-us Fri, 14 Jan 2011 21:46:08 +0530 Fri, 14 Jan 2011 21:46:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1094 Minimum alternate tax provisions must be read as self-contained charging and computational codes that presuppose a positive total income or tax payable; where gross total income is nil due to set-off of current or past losses and allowable deductions cannot be applied, the MAT computation cannot be invoked. The term 'income' for MAT purposes should be strictly interpreted to exclude loss, and broader contributions such as indirect taxes, investment, employment and infrastructure arising from availing tax incentives should be considered when assessing a taxpayer's societal contribution. Articles Income Tax Fri, 14 Jan 2011 21:46:08 +0530 https://www.taxtmi.com/article/detailed?id=1094