https://www.taxtmi.com/caselaws?id=766160 Question whether the Minimum Alternate Tax regime applied to a foreign bank and whether Revenue's appeal was maintainable: the article explains that the assessment used book profit computation under the MAT regime and, because the tax computed on book profits was below the administrative monetary threshold, the Revenue's appeal was treated as not maintainable; the analysis further notes that the broader question of MAT applicability to banking institutions is concluded by existing precedent, so the assessment under the MAT computation remains operative in favour of the assessee. en-us Thu, 16 Jan 2025 00:00:00 +0530 Wed, 19 Feb 2025 08:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766160 Question whether the Minimum Alternate Tax regime applied to a foreign bank and whether Revenue's appeal was maintainable: the article explains that the assessment used book profit computation under the MAT regime and, because the tax computed on book profits was below the administrative monetary threshold, the Revenue's appeal was treated as not maintainable; the analysis further notes that the broader question of MAT applicability to banking institutions is concluded by existing precedent, so the assessment under the MAT computation remains operative in favour of the assessee. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766160