Court Affirms Income Inclusion in Book Profit for MAT; Assessee Fails to Prove Exclusion Under Companies Act Schedule VI.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of the company. By very adoption and inclusion of the said income in the profits of the company it has been affirmed that the same had come within the ambits of the "book profit". .... - AT....