Profit shown in P&L account is to be considered and not LTCG under sec. 10(38) for computing MAT lia

IT: The book profit under Section 115JB shall be reduced by the amount of income to which provision of section 10 applies. However, income under the provisions contained in section 10(38) will not be reduced. The concept of indexation while computing the long-term capital gain cannot be imported into the computation of book profit under Section 115JB.