https://www.taxtmi.com/caselaws?id=763701 Delhi HC held that LTCG exempt under Section 10(38) must be included in book profit computation for MAT under Section 115JB. The court clarified that Section 10(38) proviso cannot be interpreted in reverse - if gains are not included in book profits under Section 115JB, they cannot be treated as taxable income under normal provisions when specifically exempted under Section 10(38). The court upheld CIT(A) and ITAT decisions rejecting Revenue's contention, confirming that exempted LTCG remains excluded from regular income computation despite MAT inclusion requirements. en-us Tue, 24 Dec 2024 00:00:00 +0530 Thu, 06 Feb 2025 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763701 Delhi HC held that LTCG exempt under Section 10(38) must be included in book profit computation for MAT under Section 115JB. The court clarified that Section 10(38) proviso cannot be interpreted in reverse - if gains are not included in book profits under Section 115JB, they cannot be treated as taxable income under normal provisions when specifically exempted under Section 10(38). The court upheld CIT(A) and ITAT decisions rejecting Revenue's contention, confirming that exempted LTCG remains excluded from regular income computation despite MAT inclusion requirements. Case-Laws Income Tax Tue, 24 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763701