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2013 (12) TMI 316 - HC - Income TaxInterest under Section 234B and C on the MAT credit - Held that:- Following Commissioner of Income Tax Vs. Tulsyan Nec Ltd. [2010 (12) TMI 23 - Supreme Court of India] - Once the conditions mentioned in Section 115-JAA are fulfilled, the grant of such credit is not dependent upon determination by the AO - The ultimate amount of tax credit to be allowed will be dependent upon the final determination of the total income for the first assessment year - There is no provision under Section 115-JAA which postpones the right of the assessee to claim set-off to the determination of the total income by the AO in the first assessment year - Entitlement/right to claim set-off is different from the quantum/quantification of that right - When the AO determines the tax payable he has to give credit for all taxes paid either by way of deduction at source, advance tax, self-assessment tax or tax paid otherwise which would include or which cannot exclude tax credit under Section 115-JAA(1) - Decided against Revenue.
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