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2016 (2) TMI 1203 - AT - Income TaxAllowance of MAT credit u/s.115JAA - Surcharge and Education cess included in the MAT credit - Held that:- As decided in WYETH LIMITED VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, LARGE TAXPAYERS UNIT, MUMBAI [2015 (1) TMI 1299 - ITAT MUMBAI] the MAT as well as normal tax before allowing the MAT credit has to be taken on parity either exclusion of surcharge and education cess or inclusive of surcharge and education cess or inclusive of surcharge and education cess. Accordingly we set aside the orders of authorities below and direct the Assessing Officer to allow the MAT credit against the tax liability payable before surcharge and education cess or alternatively the amount of MAT credit should also be inclusive of surcharge and education cess and then allow the credit against the tax payable inclusive of surcharge and education cess - decided against revenue.
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