https://www.taxtmi.com/caselaws?id=296920 Lease equalisation charges, treated as a provision for diminution in the value of assets, fall within the book-profit adjustment under section 115JA where clause (g) to the Explanation, inserted retrospectively from 1 April 1998, specifically covers amounts set aside as such provision. On that basis, the Assessing Officer was required to apply the amended MAT computation provision, and the contrary High Court decision cited by the assessee was held inapplicable on the facts. The charges were therefore addable back to book profits, the assessee's challenge failed, and the Revenue's appeals succeeded. en-us Tue, 02 May 2017 00:00:00 +0530 Wed, 11 Aug 2021 21:23:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296920 Lease equalisation charges, treated as a provision for diminution in the value of assets, fall within the book-profit adjustment under section 115JA where clause (g) to the Explanation, inserted retrospectively from 1 April 1998, specifically covers amounts set aside as such provision. On that basis, the Assessing Officer was required to apply the amended MAT computation provision, and the contrary High Court decision cited by the assessee was held inapplicable on the facts. The charges were therefore addable back to book profits, the assessee's challenge failed, and the Revenue's appeals succeeded. Case-Laws Income Tax Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296920