The Assessing Officer passed assessment order accepting return filed by assessee.Subsequently, assessee filed rectification application on ground that revenue expenditure incurred on patents/trademark registration, clinical trials etc. which was shown in books of account as intangible assets was not reduced from book profit for purpose of calculation of MAT liability Assessing Officer denied application on ground that assessee had not claimed deferred revenue expenditure in return of income and thus, claim would not come under purview of section 154. Tribunal held that the revenue expenditure were treated as deferred expenses under head Patent/IPR/Technology for write off over next few years and during relevant year certain amount with respect to said expenses had been written off and claimed in profit and loss account. The assessee had debited a part of revenue expenditure in profit and loss account which was not prepared in accordance with Part II Schedule VI of Companies Act and had been done for presentation to and consumption of shareholders.Since tax liability had been computed under section 115JB, book profit had to be determined in terms of Part II of Schedule VI of Companies Act which necessarily include book profit after allowing deduction for whole of revenue expenditure.Thus, whole of revenue expenditure incurred by assessee during previous year had to be reduced while calculating net profit and net profit so arrived would form basis for determination of MAT liability. (AY. 2009-10, 2011-12)