https://www.taxtmi.com/caselaws?id=381459 The Tribunal held that the income from the Joint Venture (AOP) should be excluded from the computation of "book profits" under section 115JB of the Income Tax Act. It ruled in favor of the assessee, stating that the share of income from the AOP, not taxable under normal provisions, should not be subject to Minimum Alternate Tax (MAT) liability. The Tribunal directed the Assessing Officer to exclude the AOP income while calculating book profits, allowing the appeal of the assessee. The decision was pronounced on 22nd May 2019. en-us Wed, 22 May 2019 00:00:00 +0530 Tue, 11 Jun 2019 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381459 The Tribunal held that the income from the Joint Venture (AOP) should be excluded from the computation of "book profits" under section 115JB of the Income Tax Act. It ruled in favor of the assessee, stating that the share of income from the AOP, not taxable under normal provisions, should not be subject to Minimum Alternate Tax (MAT) liability. The Tribunal directed the Assessing Officer to exclude the AOP income while calculating book profits, allowing the appeal of the assessee. The decision was pronounced on 22nd May 2019. Case-Laws Income Tax Wed, 22 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381459