Court Rules Agricultural Land Sale Excluded from Book Profits for MAT u/s 115JB.

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....MAT computation - exclusion of profit on sale of agricultural land while computing book profit u/s 115JB - This land was used for agricultural purpose and considering the location of this land, in near future it cannot be used for non-agricultural purposes. The AO himself has accepted that the land is an agricultural land out of definition of capital assets - No additions - AT....