As per provisions of MAT u/s 115JB, it is specified that Brought forward business loss or depreciation whichever is loss is deductible from Book Profit. Suppose one company has very minimum assets and hence it's depreciation is quite less and business loss is high. Applying 115JB, after deduction of all depreciation brought forward, whether brought forward business loss is deductible in calculation of MAT u/s 115JB?
Only Lower of Book Profits or Business Losses are eligible for deduction u/s 115JB. If the above case if the entire depreciation has been deducted, no further deduction in respect of business losses will be available for deduction in Computation of Book Profits u/s 115JB
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