https://www.taxtmi.com/caselaws?id=33201 The Madras High Court, in a case involving the interpretation of Section 80HHC of the Income-tax Act, 1961 in the context of MAT assessment, held that the deduction under Section 80HHC for MAT assessment should be based on the adjusted book profit rather than the profit computed under the regular provisions of law. The Court emphasized that the book profit arrived at should be the basis for taxation, limiting the computation under Section 80HHC to profits of the eligible category only. Relying on relevant case law, the Court ruled in favor of the assessee, dismissing the tax case appeals brought by the revenue. en-us Mon, 13 Apr 2009 00:00:00 +0530 Tue, 13 Jul 2010 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33201 The Madras High Court, in a case involving the interpretation of Section 80HHC of the Income-tax Act, 1961 in the context of MAT assessment, held that the deduction under Section 80HHC for MAT assessment should be based on the adjusted book profit rather than the profit computed under the regular provisions of law. The Court emphasized that the book profit arrived at should be the basis for taxation, limiting the computation under Section 80HHC to profits of the eligible category only. Relying on relevant case law, the Court ruled in favor of the assessee, dismissing the tax case appeals brought by the revenue. Case-Laws Income Tax Mon, 13 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33201