https://www.taxtmi.com/caselaws?id=419500 For MAT computation under Section 115JA, profits attributable to captive power generation used internally by the smelter unit were treated as profits derived from the business of generation of power and could be reduced from book profit, even without third-party sale. A liability for leave encashment and post-retirement medical benefits, when supported by actuarial valuation and consistently reflected in the accounts, was treated as an ascertained liability rather than a contingent one, so it was deductible and not required to be added back. The book profits were therefore to be recomputed by allowing both adjustments. en-us Wed, 09 Mar 2022 00:00:00 +0530 Mon, 25 Sep 2023 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419500 For MAT computation under Section 115JA, profits attributable to captive power generation used internally by the smelter unit were treated as profits derived from the business of generation of power and could be reduced from book profit, even without third-party sale. A liability for leave encashment and post-retirement medical benefits, when supported by actuarial valuation and consistently reflected in the accounts, was treated as an ascertained liability rather than a contingent one, so it was deductible and not required to be added back. The book profits were therefore to be recomputed by allowing both adjustments. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419500