https://www.taxtmi.com/caselaws?id=385684 The High Court of Calcutta considered whether the amount created for unexpired risk constitutes a reserve under Explanation 1(b) of Section 115JB of the Income Tax Act, 1961 for Minimum Alternate Tax (MAT) purposes. The court admitted the appeal based on substantial questions of law, directing the appellant to file informal paper books and listing the appeal for a future hearing. Additionally, the court addressed the issue of whether the question on amortization was a pure question of fact, emphasizing the need for clarity on this matter. The procedural aspects of the case were streamlined, including the disposal of the stay application. en-us Tue, 20 Aug 2019 00:00:00 +0530 Wed, 11 Sep 2019 18:57:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385684 The High Court of Calcutta considered whether the amount created for unexpired risk constitutes a reserve under Explanation 1(b) of Section 115JB of the Income Tax Act, 1961 for Minimum Alternate Tax (MAT) purposes. The court admitted the appeal based on substantial questions of law, directing the appellant to file informal paper books and listing the appeal for a future hearing. Additionally, the court addressed the issue of whether the question on amortization was a pure question of fact, emphasizing the need for clarity on this matter. The procedural aspects of the case were streamlined, including the disposal of the stay application. Case-Laws Income Tax Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385684