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2017 (11) TMI 1898 - AT - Income TaxMAT credit calculations - surcharge and education cess to be calculated after deducting the MAT credit u/s 115JAA from the tax on assessed income or not? - HELD THAT:- Issue decided in M/S VIRTUSA (INDIA) PVT. LTD. VERSUS DCIT, CIRCLE – 17 (2) , HYDERABAD [2016 (3) TMI 245 - ITAT HYDERABAD] Assessing Officer cannot overlook the formats and (interpret it in his own method of calculating tax credit while making assessment u/s 143(1)) proceed to calculate the MAT credit to compute assessment u/s 143(1) applying different methods when the proper and correct method as proposed by CBDT in ITR-6. Analyzing the provisions of section 115JA and 2(43) of the Act read with relevant clauses of the Finance Act has held that the MAT credit allowable to the assessee is inclusive of surcharge and cess - Decided in favour of assessee.
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