https://www.taxtmi.com/caselaws?id=386869 The note explains that, for section 115JB book profit computation, only adjustments expressly authorised by the statutory Explanation can be made. Capital receipts such as industrial promotion assistance and sales tax incentive, being not income in character, were treated as excludable from MAT computation. It also states that section 14A disallowance cannot be sustained where no exempt dividend income was earned, and the same principle applies to book profit computation under section 115JB. On leave encashment, the matter was kept open for fresh consideration in light of the pending Supreme Court decision on section 43B(f). en-us Fri, 04 Oct 2019 00:00:00 +0530 Thu, 10 Oct 2019 16:46:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386869 The note explains that, for section 115JB book profit computation, only adjustments expressly authorised by the statutory Explanation can be made. Capital receipts such as industrial promotion assistance and sales tax incentive, being not income in character, were treated as excludable from MAT computation. It also states that section 14A disallowance cannot be sustained where no exempt dividend income was earned, and the same principle applies to book profit computation under section 115JB. On leave encashment, the matter was kept open for fresh consideration in light of the pending Supreme Court decision on section 43B(f). Case-Laws Income Tax Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386869