https://www.taxtmi.com/caselaws?id=754454 Profit from transfer of agricultural land, which is not a capital asset under section 2(14), cannot be added to book profit for MAT purposes under section 115JB where it is outside the regular capital gains computation. The tribunal followed prior rulings that such receipt is not includible in book profit merely because the assessment was later sought to be altered through rectification under section 154. The rectification point did not require separate treatment once the substantive MAT issue was resolved on the record, and the assessee succeeded on the inclusion issue. en-us Fri, 21 Jun 2024 00:00:00 +0530 Tue, 25 Jun 2024 08:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754454 Profit from transfer of agricultural land, which is not a capital asset under section 2(14), cannot be added to book profit for MAT purposes under section 115JB where it is outside the regular capital gains computation. The tribunal followed prior rulings that such receipt is not includible in book profit merely because the assessment was later sought to be altered through rectification under section 154. The rectification point did not require separate treatment once the substantive MAT issue was resolved on the record, and the assessee succeeded on the inclusion issue. Case-Laws Income Tax Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754454