https://www.taxtmi.com/caselaws?id=422250 Chapter VI-A deductions, including deduction under section 80IC, are confined by section 80A(2) to the amount of gross total income and cannot exceed it or create a loss. On that basis, the deduction was restricted to gross total income. For MAT computation under section 115JB, book profit is determined by an exhaustive deeming mechanism, and Explanation 1 does not permit reduction of section 80IC deduction unless expressly provided. The commentary notes that section 115JB(5) does not import Chapter VI-A deductions into the book-profit calculation. The resulting position is that section 80IC relief is unavailable in computing book profit under section 115JB. en-us Wed, 04 May 2022 00:00:00 +0530 Wed, 11 May 2022 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422250 Chapter VI-A deductions, including deduction under section 80IC, are confined by section 80A(2) to the amount of gross total income and cannot exceed it or create a loss. On that basis, the deduction was restricted to gross total income. For MAT computation under section 115JB, book profit is determined by an exhaustive deeming mechanism, and Explanation 1 does not permit reduction of section 80IC deduction unless expressly provided. The commentary notes that section 115JB(5) does not import Chapter VI-A deductions into the book-profit calculation. The resulting position is that section 80IC relief is unavailable in computing book profit under section 115JB. Case-Laws Income Tax Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422250