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2009 (4) TMI 50 - MADRAS HIGH COURTWhether Tribunal was right in law in holding that MAT credit has to be considered on payment of advance tax, therefore, such a payment or credit has to be taken into account while computing the interest under Section 234-B and 234-C – intention of the legislature is to give tax credit to tax and not to the tax and interest – Form-I cannot lay down the order of priority of adjustment of TDS, advance Tax, MAT credit under Section 115JAA which is contrary to the provisions of the Act – revenue appeal dismissed
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