Court Rules Excise Duty Exemption as Capital Receipt, Not Taxable for MAT Calculation u/s 115JB.

Court Rules Excise Duty Exemption as Capital Receipt, Not Taxable for MAT Calculation u/s 115JB. https://www.taxtmi.com/highlights?id=67393 MAT computation u/s 115JB - Adjustments to book profit - excise duty exemptions as capital receipt - the alleged sum of excise duty exemption is a capital receipt not chargeable to tax and even for the purpose of computing MAT u/s 115JB the said sum needs to be reduced from the net profit shown in the audited profit and loss account. - AT en-us Thu, 29 Dec 2022 17:35:34 +0530 Thu, 29 Dec 2022 17:35:34 +0530 TaxTMI RSS Generator Court Rules Excise Duty Exemption as Capital Receipt, Not Taxable for MAT Calculation u/s 115JB. https://www.taxtmi.com/highlights?id=67393 MAT computation u/s 115JB - Adjustments to book profit - excise duty exemptions as capital receipt - the alleged sum of excise duty exemption is a capital receipt not chargeable to tax and even for the purpose of computing MAT u/s 115JB the said sum needs to be reduced from the net profit shown in the audited profit and loss account. - AT Highlights Income Tax Thu, 29 Dec 2022 17:35:34 +0530 https://www.taxtmi.com/highlights?id=67393