MAT u/s 115JB Deemed Inapplicable to Banking Company for 2010-11; No High Court Support for Revenue.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Applicability of MAT section 115JB to the assessee being a Banking Company - there is not a single decision of the Jurisdictional High Court or even of any other Hon’ble High Court which is in favour of the Revenue on this issue - the provision of section 115JB was not applicable in the case of the assessee being a Banking company for the year under consideration, i.e. A.Y. 2010-11....