Recasting of Book Profit by AO u/s 115jb – Whether Permissible?

The provisions of Section 115JB of the Income Tax Act, 1961 [in short, the ‘Act’] which are substantially similar to the provisions of Sections 115J and 115JA of the Act inter-alia, provides for computation of book profits so as to levy a minimum alternate tax on companies who are having book profits and paying dividends but are not paying any taxes.The provisions of Section 115JB of the Income Tax Act, 1961 [in short, the ‘Act’] which are substantially similar to the provisions of Sections 115J and 115JA of the Act inter-alia, provides for computation of book profits so as to levy a minimum alternate tax on companies who are having book profits and paying dividends but are not paying any taxes.taxmann.com Latest ArticlesRead More

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