https://www.taxtmi.com/caselaws?id=251521 The Delhi High Court held that the remission or rebate of tax under Section 88E of the Income Tax Act should be factored in when calculating the disparity between tax payable on regular income and on book profits for invoking Section 115JB of the Act. The Court emphasized that the rebate under Section 88E should apply to tax computed under the Minimum Alternative Tax (MAT) scheme to prevent double taxation and ensure fairness. Consequently, the appeal was dismissed for lacking merit, affirming that the tax remission under Section 88E should be considered under both normal provisions and book profits computed under Section 115JB. en-us Fri, 22 Aug 2014 00:00:00 +0530 Mon, 08 Aug 2022 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251521 The Delhi High Court held that the remission or rebate of tax under Section 88E of the Income Tax Act should be factored in when calculating the disparity between tax payable on regular income and on book profits for invoking Section 115JB of the Act. The Court emphasized that the rebate under Section 88E should apply to tax computed under the Minimum Alternative Tax (MAT) scheme to prevent double taxation and ensure fairness. Consequently, the appeal was dismissed for lacking merit, affirming that the tax remission under Section 88E should be considered under both normal provisions and book profits computed under Section 115JB. Case-Laws Income Tax Fri, 22 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251521