Assessing Officer Can Re-compute Book Profits for MAT if Accounts Aren't as per Schedule VI, Companies Act.

Assessing Officer Can Re-compute Book Profits for MAT if Accounts Aren't as per Schedule VI, Companies Act. https://www.taxtmi.com/highlights?id=68260 MAT - Computation of book profits for the purpose of MAT under the provisions of sec.115JB - Assessee has not prepared its accounts in accordance with Part-II & III of Schedule-VI of Companies Act, 1956, and thus, the AO is very well empowered to re-compute book profit for the purpose of Sec.115JB of the Act. - AT en-us Tue, 14 Feb 2023 14:03:08 +0530 Tue, 14 Feb 2023 14:03:08 +0530 TaxTMI RSS Generator Assessing Officer Can Re-compute Book Profits for MAT if Accounts Aren't as per Schedule VI, Companies Act. https://www.taxtmi.com/highlights?id=68260 MAT - Computation of book profits for the purpose of MAT under the provisions of sec.115JB - Assessee has not prepared its accounts in accordance with Part-II & III of Schedule-VI of Companies Act, 1956, and thus, the AO is very well empowered to re-compute book profit for the purpose of Sec.115JB of the Act. - AT Highlights Income Tax Tue, 14 Feb 2023 14:03:08 +0530 https://www.taxtmi.com/highlights?id=68260