Mat-urgent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2013 Respected Experts,

I want to know that while computing book profits for calculation of MAT,the unabsorbed depriciation & b/f losses are to be taken on year to year basis or aggregate of all the earlier years?Please reply soon. Its very urgent.also give any guidance note or case law,if any in this regard.

Thanks

CA Harish Suwalka

CA Harish Suwalka (Expert)
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26 January 2013 amount of brought forward loss or unabsorbed depreciation whichever is less” in clause (iii) shows the intention of the legislature for considering one consolidated figure of brought forward loss or unabsorbed depreciation for the earlier years in totality and not on year to Year basis, the same view has been accepted in amine textiles case