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Assessee engaged in development of housing project units isn't exempt from payment of MAT

June 18, 2019[2019] 106 taxmann.com 69 (Chandigarh - Trib.)/[2019] 177 ITD 70 (Chandigarh - Trib.)
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IT: Where assessee was engaged in development of housing project units which were neither units in SEZ nor assessee was developer of SEZ, its income would not be exempt from payment of MAT

IT: Section 115JB is charging section and except for deductions specified in Explanation 1 to section 115JB(2), no other deductions would be allowed including deduction under section 80-IB

IT: Where tax effect by virtue of order passed by Commissioner (Appeals) was below Rs. 20 lakhs in assessee's case, in view of mandate issued by CBDT in Circular No. 3, dated 11-7-2018, appeal filed by revenue was to be dismissed as not pressed

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