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| The Tax Publishers2020 TaxPub(DT) 5335 (Karn-HC) INCOME TAX ACT, 1961
Section 115JB
Banking companies are not liable to MAT under section 115JB.
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MAT - Computation of book profit under section 115JB - Applicability of section 115JB to banking companies -
Issue arose as to whether or not banking companies are liable for Minimum Alternate Tax under section 115JB. Held: Following CIT v. Vijaya Bank 2020 TaxPub(DT) 4875 (Karn-HC)
Followed:CIT v. Vijaya Bank 2020 TaxPub(DT) 4875 (Karn-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 36(1)(vii)
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