Disallowance of Depreciation under MAT Provisions for Adjustments in Book of Profit does not Attract Penalty: ITAT [Read Order]

Disallowance - Depreciation - MAT Provisions - Book of Profit - Penalty - ITAT - taxscan

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), in a recent ruling has held in favour of the assessee that, no penalty can be imposed under Minimum Average Tax (MAT) provisions for adjustments in book of profit with regard to disallowance of depreciation. The appeal was filed by the assessee, Jubilant Infrastructure Ltd….

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