{"id":38369,"date":"2024-01-15T19:55:43","date_gmt":"2024-01-15T14:25:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=38369"},"modified":"2024-01-15T19:55:43","modified_gmt":"2024-01-15T14:25:43","slug":"book-profit-mat-mistake-in-earlier-years","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/book-profit-mat-mistake-in-earlier-years\/","title":{"rendered":"Book profit (MAT), mistake in earlier years ?"},"content":{"rendered":"<p><strong>A Limited has adopted IND AS for the first time in assessment year 2021\/22. During the assessment year, company found that there were certain mistakes in the earlier years. Therefore, it rectified the error by recording prior period expenses and as well as income. The said prior period adjustments have been routed through \u201cOther equity and not through Other comprehensive income\u201d as per IND AS \u2013 requirements. Whether, can AO make the adjustments while making the assessment under MAT?<\/strong><\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1130,1129],"qa_category":[23],"qa_tag":[1139,1140],"class_list":["post-38369","qa","type-qa","status-publish","hentry","qa_expert-chartered-accountant","qa_expert-mr-h-n-motiwalla","qa_category-income-tax","qa_tag-book-profit-mat","qa_tag-mistake-in-earlier-years"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/38369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38369"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38369"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=38369"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=38369"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=38369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}