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Commissioner of Income Tax Versus M/s. TCI Seaways Ltd., M/s. Wheels India Ltd.

MAT credit to be set off from the tax payable before levying interest under section 234B and 234C - Held that:- We notice that the issues raised in the substantial question of law in the above appeals have been considered and the question was decided in favour of the assessee by the judgment of this Court in Commissioner of Income Tax Vs. Chemplast Sanmar Ltd, reported in (2009 (4)61 - MADRAS HIGH COURT ) affirmed in the case reported in Commissioner of Income Tax Vs. Tulsyan Nec Ltd.(2010 (12)2 .....

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he assessee, the liability of the assessee gets increased instead of it getting reduced - Decided in favour of assessee - Tax Case Appeal Nos. 1096 to 1098 of 2007 - Dated:- 19-10-2016 - Nooty Ramamohana Rao And Anita Sumanth, JJ. For Appellant : Mr.M. Swaminathan For Respondent : Mr. J.R.K. Bhavanantham ORDER ( Judgment of the Court was delivered by Anita Sumanth, J.) These Tax Case Appeals against the revenue, challenge the orders of Income Tax Appellate Tribunal passed in ITA No.529/Mds/2005 .....

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her, on the facts and circumstances of the case, the MAT credit can be given priority of set off against tax payable, contrary to the scheme of Schedule G of Form 1 3. Heard the learned counsel appearing on behalf of the appellant and the learned counsel appearing for the assessee respondent. 4. We notice that the issues raised in the substantial question of law in the above appeals have been considered and the question was decided in favour of the assessee by the judgment of this Court in Commi .....

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