https://www.taxtmi.com/article/detailed?id=1714 The article critiques the taxpayer's decision to file a settlement application disclosing substantial MAT income instead of filing a revised return or an original return within limitation, noting that a loss return had been filed for one year and no return for the next. The settlement petition was admitted and processed, but the author argues that procedural alternatives-amending returns and examining whether book profit tax provisions applied to a loss making company with carried forward losses-were available and may have been preferable. en-us Wed, 09 May 2012 18:47:48 +0530 Wed, 09 May 2012 18:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1714 The article critiques the taxpayer's decision to file a settlement application disclosing substantial MAT income instead of filing a revised return or an original return within limitation, noting that a loss return had been filed for one year and no return for the next. The settlement petition was admitted and processed, but the author argues that procedural alternatives-amending returns and examining whether book profit tax provisions applied to a loss making company with carried forward losses-were available and may have been preferable. Articles Income Tax Wed, 09 May 2012 18:47:48 +0530 https://www.taxtmi.com/article/detailed?id=1714