https://www.taxtmi.com/caselaws?id=238426 When taxable income is computed on book profits under the minimum alternate tax regime and not under normal provisions, the statutory explanation applicable to that computation must be applied; consequently additions made under the normal provisions are irrelevant and cannot support imposition of a penalty under the penalty provision for concealment or inaccurate particulars. Relying on prior High Court authority, the consequence is that penalty proceedings based on additions under normal provisions are barred, and the decision was rendered in favour of the assessee. en-us Thu, 10 Oct 2013 00:00:00 +0530 Thu, 05 Feb 2026 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238426 When taxable income is computed on book profits under the minimum alternate tax regime and not under normal provisions, the statutory explanation applicable to that computation must be applied; consequently additions made under the normal provisions are irrelevant and cannot support imposition of a penalty under the penalty provision for concealment or inaccurate particulars. Relying on prior High Court authority, the consequence is that penalty proceedings based on additions under normal provisions are barred, and the decision was rendered in favour of the assessee. Case-Laws Income Tax Thu, 10 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238426