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2011 (5) TMI 565 - DELHI HIGH COURTMAT credit - Scrutiny - Interest u/s 244A - Held that:- Proviso to sub-Section (2) of Section 115JAA of the Act will have no application to the facts situation prevailing in the instant case. This proviso will have limited application only in those cases where tax credit is allowed to be set off under sub-Section (1) of Section 115JAA of the Act. On the other hand, Section 244A of the Act deals with altogether different situation. Once take into account the interpretation given in Tulsyan NEC Ltd. (2010 (12) TMI 23 - Supreme Court of India), viz., the MAT credit is available on the very first day and such a right gets crystallized no sooner the tax is payable to the assessee under Section 115JA of the Act which is to be adjusted first, then what becomes refundable after adjustment of MAT credit is the excess advance tax, which was paid by the assessee. On such advance tax, which becomes refundable, interest under Section 244A of the Act has to be calculated and paid - Decided in the favour of the assessee
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