https://www.taxtmi.com/caselaws?id=248870 Profit arising from the sale of agricultural land that is not a capital asset under section 2(14)(iii) cannot be included in book profit under section 115JB. The ITAT Cochin applied the view taken in the assessee's own earlier case and held that Chapter XII-B provides only an alternative method of tax computation; it does not enlarge the scope of total income or bring within MAT a receipt that is otherwise outside the charge of tax. The sale proceeds were therefore excluded from book profit computation. en-us Fri, 06 Jun 2014 00:00:00 +0530 Fri, 27 Jun 2014 19:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248870 Profit arising from the sale of agricultural land that is not a capital asset under section 2(14)(iii) cannot be included in book profit under section 115JB. The ITAT Cochin applied the view taken in the assessee's own earlier case and held that Chapter XII-B provides only an alternative method of tax computation; it does not enlarge the scope of total income or bring within MAT a receipt that is otherwise outside the charge of tax. The sale proceeds were therefore excluded from book profit computation. Case-Laws Income Tax Fri, 06 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248870