The Central Board of Direct Taxes have issued a circular w.r.t relaxation of norms relating to Minimum Alternate Tax (MAT) for the Corporate Debtors against whom the Corporate Insolvency Resolution Process (CIRP) has been initiated under Section 7 (by Financial Creditors) or under Section 9 (by Operational Creditors) of Insolvency and Bankruptcy Code. At the moment, the relaxation is w.r.t Financial Year 2017-18 (Assessment Year 2018-19)
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