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2021 (7) TMI 207 - AT - Income TaxComputation of set-off of MAT credit u/s 115JAA excluding surcharge and cess resulting short grant of MAT credit - HELD THAT:- Format ITR–6 was amended from A.Y. 2012-13 wherein the tax liability in Part-B –TTI both under normal provisions and under MAT provisions computed including surcharge and cess. MAT credit is computed automatically using the prescribed algorithm which is nothing but the balancing figure i.e. different between tax liability and MAT liability including surcharge and cess. Therefore, post A.Y. 2012-13 as the format of ITR-6 is so designed to compute MAT credit automatically using the prescribed algorithm i.e. difference between tax liability and MAT liability including surcharge and cess is a balancing figure. There cannot be any debate as to the exclusion of surcharge and cess. The observation of the Ld.CIT(A) that the issue is debatable one is not sustainable - majority of the decisions including the decisions of the Hon'ble Calcutta High Court and Hon'ble Madras High Court are in favour of the assessee and therefore it cannot be said that it is a debatable issue. In the circumstances, respectfully following the above said decisions allowing the grounds of appeal of the assessee, we direct the Assessing Officer to allow set off of MAT credit inclusive of surcharge and education cess and recompute the tax payable by the assessee for the year under consideration. - Decided in favour of assessee.
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