Court Rules Excise Duty Exemption as Capital Receipt, Not Taxable for MAT Calculation u/s 115JB.

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....MAT computation u/s 115JB - Adjustments to book profit - excise duty exemptions as capital receipt - the alleged sum of excise duty exemption is a capital receipt not chargeable to tax and even for the purpose of computing MAT u/s 115JB the said sum needs to be reduced from the net profit shown in the audited profit and loss account. - AT....