https://www.taxtmi.com/caselaws?id=370095 Section 115JB did not apply to a power company for assessment years before 01.04.2013 because, before the Finance Act, 2012 amendment, MAT computation under the statute required a profit and loss account prepared under Parts II and III of Schedule VI to the Companies Act, 1956. Companies engaged in generation and sale of electricity were governed by the special electricity regulatory framework, and the later insertion of Explanation 3 and the revised sub-section (2) was a substantive expansion of MAT liability. The amendment could not operate retrospectively, so the Revenue's challenge to pre-2013 assessments failed. en-us Wed, 31 Oct 2018 00:00:00 +0530 Fri, 09 Nov 2018 20:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370095 Section 115JB did not apply to a power company for assessment years before 01.04.2013 because, before the Finance Act, 2012 amendment, MAT computation under the statute required a profit and loss account prepared under Parts II and III of Schedule VI to the Companies Act, 1956. Companies engaged in generation and sale of electricity were governed by the special electricity regulatory framework, and the later insertion of Explanation 3 and the revised sub-section (2) was a substantive expansion of MAT liability. The amendment could not operate retrospectively, so the Revenue's challenge to pre-2013 assessments failed. Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370095