Exempt long-term capital gains taxable for MAT but not regular income if not in book profits.

Exempt long-term capital gains taxable for MAT but not regular income if not in book profits. https://www.taxtmi.com/highlights?id=84310 The HC upheld that LTCG exempt u/s 10(38) should be included in book profits for MAT computation u/s 115JB. However, proviso to s.10(38) cannot be read to include exempt LTCG in normal income if not included in book profits. The CIT(A) and ITAT rightly rejected Revenue's contention. en-us Thu, 26 Dec 2024 08:45:40 +0530 Thu, 26 Dec 2024 08:45:40 +0530 TaxTMI RSS Generator Exempt long-term capital gains taxable for MAT but not regular income if not in book profits. https://www.taxtmi.com/highlights?id=84310 The HC upheld that LTCG exempt u/s 10(38) should be included in book profits for MAT computation u/s 115JB. However, proviso to s.10(38) cannot be read to include exempt LTCG in normal income if not included in book profits. The CIT(A) and ITAT rightly rejected Revenue's contention. Highlights Income Tax Thu, 26 Dec 2024 08:45:40 +0530 https://www.taxtmi.com/highlights?id=84310