https://www.taxtmi.com/caselaws?id=185875 The Appellate Tribunal upheld the CIT(A)'s decision that tax under section 115JB of the Income Tax Act should be computed without considering the rebate u/s. 88E for securities transactions. The Tribunal ruled that the tax payable under section 115JB is the gross tax payable, not the tax after rebate. As the tax on income computed under normal provisions exceeded 10% of book profit, the Minimum Alternate Tax provision did not apply. The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s findings. en-us Fri, 09 Sep 2011 00:00:00 +0530 Mon, 09 Oct 2017 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185875 The Appellate Tribunal upheld the CIT(A)'s decision that tax under section 115JB of the Income Tax Act should be computed without considering the rebate u/s. 88E for securities transactions. The Tribunal ruled that the tax payable under section 115JB is the gross tax payable, not the tax after rebate. As the tax on income computed under normal provisions exceeded 10% of book profit, the Minimum Alternate Tax provision did not apply. The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s findings. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185875