MINIMUM ALTERNATIVE TAX -115JB OF INCOME TAX ACT, 1961

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....INIMUM ALTERNATIVE TAX -115JB OF INCOME TAX ACT, 1961<br> Query (Issue) Started By: - b g reddy Dated:- 18-4-2011 Last Reply Date:- 19-4-2011 Income Tax<br>Got 2 Replies<br>Income Tax<br>weather sale ....

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....of agriculture land beyond 8 km from municipal limits by a company attracts MAT or not .pleaseclarift thanks Reply By GOPALJI AGRAWAL: The Reply: Since agricultural land is not capital asset hence ....

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....its gain is not taxable under income tax. But there is no exclusion clause in the MAT provisions for excluding such incomes. However in a case of Delhi Gymkhana Club Limited Vs. CIT 2010, it was held ....

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....that income not taxable on the ground of mutuality can not be taxed u/s 115JB. I also seek any different view on the matter. Reply By b g reddy: The Reply: GOPALJI AGRAWAL ,thank you very much for....

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.... the reply to my query, but we did not find the Delhi Gymkhana Club Limited Vs. CIT 2010 case details,please clarify this where we get the case details<br> Discussion Forum - Knowledge Sharing ....