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2009 (4) TMI 485 - MADRAS HIGH COURTInterest u/s 234B and 234C - MAT credit under section 115JAA - Whether the Tribunal was right in holding that the MAT credit is to be set off from the tax payable before levying interest u/s 234B and 234C of the Income-tax Act, 1961 - Whether the MAT credit can be given priority of set off against tax payable, contrary to the scheme of Schedule G of Form 1 - Held that:- The very same issues have been considered by the Division Bench of this court in TCA. Nos. 887 of 2004 etc. batch on 9-4-2009 CIT v. Chemplast Sanmar Ltd. [2009 -TMI - 33295 - MADRAS HIGH COURT]and the Division Bench has answered in favour of the assessee and against the revenue.
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