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2018 (5) TMI 2057 - ITAT CHENNAISurcharge and education cess as part of the income-tax - According to the Ld. D.R., from the gross amount so arrived, the amount of credit available under Section 115JB on account of income-tax, surcharge and education cess have to be deducted and the net tax payable after setting off credit available under Section 115JB of the Act has to be worked out - HELD THAT:- It is not in dispute that if surcharge and education cess form part of incometax, then it has to be adjusted against the tax liability under the MAT scheme. Article 271 of the Constitution of India in categorical term says that surcharge and education cess include income-tax. This was also clarified by the Apex Court in the case of K. Srinivasan [1971 (11) TMI 2 - SUPREME COURT] Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. Appeal filed by the Revenue is dismissed.
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