https://www.taxtmi.com/caselaws?id=772507 Section 115JB did not apply to a nationalised bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, because clause (b) of section 115JB(2) covers entities formed and registered under the Companies Act. The Tribunal treated the deeming fiction in section 11 of the banking statute as confined to the Income-tax Act and insufficient to convert the bank into a company for MAT purposes. Accordingly, the Assessing Officer's MAT computation could not be sustained, and the related book-profit adjustment issue became infructuous. en-us Fri, 04 Apr 2025 00:00:00 +0530 Wed, 04 Jun 2025 09:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772507 Section 115JB did not apply to a nationalised bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, because clause (b) of section 115JB(2) covers entities formed and registered under the Companies Act. The Tribunal treated the deeming fiction in section 11 of the banking statute as confined to the Income-tax Act and insufficient to convert the bank into a company for MAT purposes. Accordingly, the Assessing Officer's MAT computation could not be sustained, and the related book-profit adjustment issue became infructuous. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772507