https://www.taxtmi.com/article/detailed?id=9781 Central issue concerns the scope and applicability of the MAT provisions as an integral, self-contained code governing charging and computation of tax on book profits. The provisions presuppose determination of gross total income, application of Chapter VIA deductions to arrive at total income, and calculation of tax payable on that total income. Where those pre-conditions cannot be satisfied-because GTI/TI are nil or negative or no tax is computed on normally determined income-the statutory mechanism for computing and charging tax on book profits cannot be set in motion and the MAT formulae are inapplicable. en-us Fri, 14 May 2021 08:35:21 +0530 Fri, 14 May 2021 08:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9781 Central issue concerns the scope and applicability of the MAT provisions as an integral, self-contained code governing charging and computation of tax on book profits. The provisions presuppose determination of gross total income, application of Chapter VIA deductions to arrive at total income, and calculation of tax payable on that total income. Where those pre-conditions cannot be satisfied-because GTI/TI are nil or negative or no tax is computed on normally determined income-the statutory mechanism for computing and charging tax on book profits cannot be set in motion and the MAT formulae are inapplicable. Articles Income Tax Fri, 14 May 2021 08:35:21 +0530 https://www.taxtmi.com/article/detailed?id=9781