Topic

book profit

2 articlesLatest March 2026
Section 115JB MAT | CSR Expenses Non-Adjustable in Book Profit; Section 14A Disallowance Inapplicable Under MAT Regime : ITAT Ahmedabad
Case Law Analysis
|Income Tax Appellate Tribunal

Section 115JB MAT | CSR Expenses Non-Adjustable in Book Profit; Section 14A Disallowance Inapplicable Under MAT Regime : ITAT Ahmedabad

ITAT Ahmedabad rules that Corporate Social Responsibility (CSR) expenses cannot be added back to 'book profit' for Minimum Alternate Tax (MAT) calculations under Section 115JB. The tribunal also clarifies that Section 14A disallowance for exempt income does not apply when tax liability is computed under MAT, offering relief to taxpayers facing revisionary proceedings.

Section 115JB IT Act | Warranty Provisions Based on Scientific Estimation Are Ascertained Liabilities, Not Addable to Book Profit : ITAT Ahmedabad
Case Law Analysis
|Income Tax Appellate Tribunal

Section 115JB IT Act | Warranty Provisions Based on Scientific Estimation Are Ascertained Liabilities, Not Addable to Book Profit : ITAT Ahmedabad

ITAT Ahmedabad rules that warranty provisions calculated through past experience and scientific estimation qualify as ascertained liabilities under Section 115JB, barring their addition to book profits. This clarifies the tax treatment of contingent liabilities for corporate taxpayers, ensuring compliance with accounting standards while preventing double taxation.

Continue exploring