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2021 (8) TMI 1065 - ITAT DELHIMAT credit on the difference between gross tax liability as per normal provisions and MAT provisions as claimed by assessee in ITR instead of base tax as per normal income and book profit u/s 115JB - as per revenue explanation 2 to section 115JB was inserted to define the meaning of tax for the purpose of calculating book profit liable to tax u/s 115JB and it cannot be extended to section 115JAA or section 115JB of the Act - HELD THAT:- CIT(A) has allowed relief to the assessee and has held that while allowing the MAT credit, it is gross Income Tax including Surcharge and Education Cess which is required to be considered. - This issue is covered by the decision of SREI Infrastructure Finance Ltd [2016 (8) TMI 967 - CALCUTTA HIGH COURT] thereby confirming the set off of MAT Credit u/s 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before searching surcharge and education cess. The Hon’ble Calcutta High Court relied upon the decision of the Hon’ble Apex Court in case of CIT Vs. Tulsyan Nec Ltd. [2010 (12) TMI 23 - SUPREME COURT]. Thus, there is no need to interfere with the findings of the CIT(A). Hence, the appeal of the Revenue is dismissed.
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