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1 - 10 of 32 (0.42 seconds)Section 115J in The Income Tax Act, 1961 [Entire Act]
Section 115 in The Income Tax Act, 1961 [Entire Act]
Section 115JB in The Income Tax Act, 1961 [Entire Act]
Section 115JA in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Section 72 in The Companies Act, 1956 [Entire Act]
Section 73 in The Companies Act, 1956 [Entire Act]
Section 74 in The Companies Act, 1956 [Entire Act]
Malayala Manorama Co. Ltd vs Commissioner Of Income Tax,Trivandrum on 10 April, 2008
If, with respect, the
judgement of this Court in Malayala Manorama Company
Limited [supra] is to be accepted, then the very purpose
of enacting Section 115J of the Act would stand defeated,
Page Nos.23/26
https://www.mhc.tn.gov.in/judis
T.C.A.No.636 of 2016
particularly when the said section does not make any
distinction between public and private limited companies.
It needs to be reiterated that, once a Company falls within
the ambit of it being a MAT Company, Section 115J of the
Act applies and, under that section, such an assessee-
Company was required to prepare its profit and loss
account only in terms of Parts II and III of Schedule VI to
1956 Act. The reason being that rates of depreciation in
Rule 5 of the Income Tax Rules, 1962, are different from
the rates specified in Schedule XIV of 1956 Act. In fact, by
the Companies (Amendment) Act, 1988, the linkage
between the two has been expressly de-linked. Hence,
what is incorporated in Section 115J is only Schedule VI
and not Section 205 or Section 350 or Section 355.