TMI Blog2016 (2) TMI 1203X X X X Extracts X X X X X X X X Extracts X X X X ..... st the tax liability payable before surcharge and education cess or alternatively the amount of MAT credit should also be inclusive of surcharge and education cess and then allow the credit against the tax payable inclusive of surcharge and education cess - decided against revenue. - I.T.A. No.2122/Mds/2015. - - - Dated:- 3-2-2016 - Shri Chandra Poojari And Shri G. Pavan Kumar, JJ. Appellant by : Shri. B. Lakshminarayanan, IRS, JCIT. Respondent by : Shri. S.P. Chidambaram, Advocate ORDER G. Pavan Kumar, The appeal filed by the Revenue is directed against order of the Commissioner of Income-tax (Appeals)-3, Thane in Appeal No. 648-THN/14-15, Dated 25.08.2015 for the assessment year 2013-2014 passed u/s. 143(1) and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax amount excluding the surcharge and education cess of MAT credit. Aggrieved, the assessee filed appeal before the Commissioner of Income Tax (Appeals) against the order of 143(1) alleging that the ACIT (CPC) has erred in making adjustment of tax liability in respect of set off of MAT credit u/s.143(1) and also MAT credit should be set off against tax payable under normal provisions before including surcharge and educational cess. Further, carried forward MAT credit for the assessment year 2011-12 and 2012-13 has not been allowed. MAT credit shall be set off against future Tax liability of the assessee company. 4. In the appellate proceedings, the Commissioner of Income Tax (Appeals) considered the facts and the ld. Authorised Represent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s also includes element of surcharge and education cess. The Assessing Officer has no power to make segregation and allow tax credit. The Commissioner of Income Tax (Appeals) has considered the grounds, written submissions and judicial decisions and relied on the findings of the Mumbai Bench of the Tribunal and granted relief and prayed for dismissal of Revenue appeal. 7. We heard the rival contentions of both the parties perused the material on record and also judicial decision cited. The assessee company has claimed Mat credit set off against income tax on normal provisions which is allowable and such MAT credit can be carried forward also. Under the provisions of Sec. 115JB tax components also includes surcharge and education cess. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on parity either exclusion of surcharge and education cess or inclusive of surcharge and education cess or inclusive of surcharge and education cess. Accordingly we set aside the orders of authorities below and direct the Assessing Officer to allow the MAT credit against the tax liability payable before surcharge and education cess or alternatively the amount of MAT credit should also be inclusive of surcharge and education cess and then allow the credit against the tax payable inclusive of surcharge and education cess . We respectfully following the above decision, upheld the order of the Commissioner of Income Tax (Appeals) and dismiss the Revenue appeal. 8. In the result, the appeal of the Revenue in ITA No.2122/Mds/2015 is dismi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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