https://www.taxtmi.com/article/detailed?id=6689 The dispute concerns whether deferred revenue expenditure that was incurred but partly shown as deferred in the published profit and loss account may be fully debited when preparing the profit and loss account for MAT under Sections 115JA and 115JB. The High Court and Tribunal held that such expenditure is deductible in the year incurred for MAT purposes because spreading it in the published P&L to show higher shareholder profit is "window dressing"; P&L accounts prepared under Parts II and III of Schedule VI to the Companies Act, as maintained in the books, must govern MAT computation, and the Assessing Officer's power to re-scrutinise is limited. en-us Wed, 17 Feb 2016 10:03:58 +0530 Wed, 17 Feb 2016 10:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6689 The dispute concerns whether deferred revenue expenditure that was incurred but partly shown as deferred in the published profit and loss account may be fully debited when preparing the profit and loss account for MAT under Sections 115JA and 115JB. The High Court and Tribunal held that such expenditure is deductible in the year incurred for MAT purposes because spreading it in the published P&L to show higher shareholder profit is "window dressing"; P&L accounts prepared under Parts II and III of Schedule VI to the Companies Act, as maintained in the books, must govern MAT computation, and the Assessing Officer's power to re-scrutinise is limited. Articles Income Tax Wed, 17 Feb 2016 10:03:58 +0530 https://www.taxtmi.com/article/detailed?id=6689