Court Rules on MAT Calculation: Deduct Lesser of Unabsorbed Depreciation or Carried Forward Losses u/s 115 JB.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Book profit for the purpose of MAT (Minimum alternate Tax) - The lower of the solitary figures of the unabsorbed depreciation or loss brought forward for all the earlier years taken together is to be reduced for the purposes of computing book profit u/s 115 JB of the Act. - Decided against the revenue. - AT....