TMI Blog2018 (9) TMI 794X X X X Extracts X X X X X X X X Extracts X X X X ..... asframed for consideration in this Appeal, are squarely covered against the Revenue, in the light of the decision of the Hon'ble Supreme Court in the case of Commissioner of Income Tax vs. Tulsyan Nec Ltd Ltd. [2010 (12) TMI 23 - SUPREME COURT OF INDIA] also followed in the case of Commissioner of Income Tax vs. Aban Loyd Chiles Offshore Ltd [2014 (4) TMI 1013 - MADRAS HIGH COURT] as held that c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 80/Mds/2003 for the assessment year 2000-01. 2.This Appeal has been admitted on 21.07.2008, on the following Substantial Questions of Law: 1.Whether in the facts and circumstances of the case, the Tribunal was right in holding that MAT credit is to be set off from the tax payable before setting off the Tax Deducted at Source and Advance Tax paid? 2.Whether on the facts and circumstanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax vs. Aban Loyd Chiles Offshore Ltd [(2014) 366 ITR 483 (Mad)] . The Division Bench, after taking note of the decision in the case of Commissioner of Income Tax vs. Tulsyan Nec Ltd [(2011) 330 ITR 226(SC))], answered the Substantial Questions of Law against the Revenue. The operative portion of the judgement reads as follows: 10.As far as the decision reported in (2009) 314 ITR 231(Mad) rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... harging of interest under Sections 234A, 234B, 234C of the Act. This was confirmed by the Apex Court in the decision reported in (2011) 330 ITR 226(SC) in the case of Commissioner of Income Tax vs. Tulsyan Nec Ltd. 6.Thus, following the above referred decisions, the Substantial Questions of Law framed for consideration are answered against the Revenue and in favour of the Assessee and accordi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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