Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 444 - ITAT MUMBAIMinimum Alternate Tax (MAT) credit under section 115JAA for company stands merged with the Appellant - HELD THAT:- the issue before us is mutatis mutandis identical to the issue decided by a Co-ordinate bench of this Tribunal in Ambuja Cements Ltd [2019 (9) TMI 726 - ITAT MUMBAI] we hold that the Assessing Officer ought to have allowed the claim of assessee in carrying forward MAT credit of amalgamating company. Consequently, we set aside the impugned order of the Assessing Officer and direct him to allow assessee’s claim. Thus, ground no.1, is allowed. Interest u/s 234D after excluding the interest paid on refund issued u/s 143(1) - assessee preferred an alternative plea that the computation of interest under section 234D of the Act is incurred and, therefore, the interest under section 244A of the Act should be excluded - HELD THAT:- After considering the decision in case of sister concern of the assessee in Tata Communication Ltd. [2015 (7) TMI 529 - ITAT MUMBAI] and Tata Power Ltd. [2013 (3) TMI 662 - ITAT MUMBAI], the issue was restored to the file of the Assessing Officer with the direction that interest under section 244A needs to be excluded while computing interest under section 234D. Facts of this issue being similar in the current year as well, consequently, we deem it fit to set aside the impugned order of the learned Commissioner (Appeals) and restore the issue to the file of the Assessing Officer to follow the above direction. It is also pertinent to mention here that the assessee, by way of Exhibit–9, has also filed calculation of interest under section 244A.Assessing Officer is further directed to verify the above calculation and while deciding the issue proper opportunity of hearing may be provided to the assessee. Accordingly, grounds no.2 and 3, raised are allowed for statistical purposes in terms indicated above.
|