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2018 (12) TMI 603 - MADRAS HIGH COURTCredit for brought forward MAT credit after calculating interest u/s 234-B and 234-C - whether Appellate Tribunal was right in law in holding that the question of payment of interest to the assessee would arise only if set off MAT credit is allowed against the advance tax payment and it should be treated on par with the Advance tax? - Held that:- The Substantial Question of Law arising for consideration in this appeal has been answered against the Revenue in the case of Commissioner of Income Tax vs. Tulsyan Nec Ltd. [2010 (12) TMI 23 - SUPREME COURT OF INDIA]. The Hon'ble Supreme Court confirmed the decision in the case of CHEMPLAST SANMAR LTD [2009 (4) TMI 61 - MADRAS HIGH COURT]. The Hon'ble Supreme Court held that the MAT Credit admissible in terms of Section 115JAA has to be set off against the tax payable (assessed tax) before calculating interest under Sections 234A, 234B and 234C - Decided against revenue
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