Assessee's Claim on 'Book Profit' Computation u/s 115JB Dismissed; Legal Mandate Requires Different Approach.

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....MAT - computation of book profit u/s 115JB - The claim of the assessee that the starting point of computation of ‘book profit‘ under Sec. 115JB should be the profit as per the profit & loss account after making all provisions, transfers to various reserves, appropriations and transfer from various reserves does not find any support from the mandate of law.....