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2014 (3) TMI 387 - HC - Income TaxMat credit – Levy of Interest u/s 234-A, 234-B and 234-C of the Act - Whether the Tribunal were correct in holding that the difference between the tax payable on its total income and tax payable by it under the provisions of Section 115JB of the Act – Held that:- The decision in COMMISSIONER OF INCOME TAX v. M/s. DECCAN CREATIONS PVT. LTD. [2011 (1) TMI 1174 - Karnataka High Court] followed – MAT credit should be given before charging interest under Sections 234B and 234C of the Act - when once this benefit is confirmed from 01.04.2007, when Section 115JAA was introduced, the legal position is the same and the Explanation introduced by Finance Act, 2006, which came into effect from 01.04.2007, is only clarificatory – thus, the condition is not applicable for the assessee for the period prior to 01.04.2007 – Decided against Revenue.
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