https://www.taxtmi.com/article/detailed?id=5147 The principal contention is that s.115JB presupposes completion of statutory computations-existence of gross total income, allowance of Chapter VIA deductions, derivation of a positive total income and determination of tax payable-and therefore cannot be applied where the normal computation yields loss or nil taxable income. The author argues that losses are kept apart for carry forward, deductions cannot be allowed absent GTI, and a charging section must be strictly construed so that MAT cannot be imposed when foundational computation steps are inapplicable. en-us Wed, 29 May 2013 10:25:55 +0530 Wed, 29 May 2013 10:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5147 The principal contention is that s.115JB presupposes completion of statutory computations-existence of gross total income, allowance of Chapter VIA deductions, derivation of a positive total income and determination of tax payable-and therefore cannot be applied where the normal computation yields loss or nil taxable income. The author argues that losses are kept apart for carry forward, deductions cannot be allowed absent GTI, and a charging section must be strictly construed so that MAT cannot be imposed when foundational computation steps are inapplicable. Articles Income Tax Wed, 29 May 2013 10:25:55 +0530 https://www.taxtmi.com/article/detailed?id=5147