Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2010 (4) TMI 151 - BOMBAY HIGH COURT
Advance tax- whether minimum alternative tax (MAT) credit, to which the assessee is undisputedly entitled, must be given before computing interest payable by the assessee under section 234B of the Income-tax Act, 1961; or whether, as contended by the Revenue, the credit is allowable after the liability to pay interest under section 234B is computed? Held that- dismissing the appeal, that for the assessments year 1998-99, 1999-2000 and 2000-01 in computing interest payable under section 234B, minimum alternate tax credit had to be taken into account.