https://www.taxtmi.com/caselaws?id=333520 The High Court remanded the case for re-examination on the calculation method under Section 115JB(2) of the Income Tax Act. The appellant's challenge regarding the disallowance of brought forward losses for MAT purposes was upheld, with the Commissioner supporting the Assessing Officer's decision. The reopening of assessment under section 147 was deemed procedurally correct, and the interpretation of provisions under section 115JB, Explanation 1, clause (iii) was affirmed. Ultimately, the Tribunal upheld the lower authorities' orders, dismissing the appellant's appeal and confirming the tax liability computation and treatment of losses for MAT purposes. en-us Tue, 02 Aug 2016 00:00:00 +0530 Sat, 15 Oct 2016 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333520 The High Court remanded the case for re-examination on the calculation method under Section 115JB(2) of the Income Tax Act. The appellant's challenge regarding the disallowance of brought forward losses for MAT purposes was upheld, with the Commissioner supporting the Assessing Officer's decision. The reopening of assessment under section 147 was deemed procedurally correct, and the interpretation of provisions under section 115JB, Explanation 1, clause (iii) was affirmed. Ultimately, the Tribunal upheld the lower authorities' orders, dismissing the appellant's appeal and confirming the tax liability computation and treatment of losses for MAT purposes. Case-Laws Income Tax Tue, 02 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333520