2021 (12) TMI 1124

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..... Jain Assessee by: Shri Ajith Kumar Jain ORDER PER M. BALAGANESH (A.M): This appeal in ITA No.5029/Mum/2019 for A.Y.2011-12 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-8, Mumbai in appeal No.CIT-8/IT-10009/18-19 dated 13/05/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.154 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 12/ .....

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..... ver, in the intimation u/s.143(1) of the Act dated 13/01/2012, the CPC, Bangalore had indeed computed the income u/s.115JB of the Act at Rs. 139,95,04,355/- and had determined the total tax payable under MAT at Rs. 27,89,28,216/- which is inclusive of surcharge and education cess. Against this tax payable, the assessee had indeed paid advance tax of Rs. 28,39,53,100/- which was given due credit in .....

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..... respect of tax portion thereon and that the surcharge and education cess embedded in the MAT credit would not be eligible for set off. Accordingly, he withdrew the benefit of MAT credit to be carried forward to the extent of Rs. 2,70,17,432/- (Rs. 1,88,93,309 + 81,24,123). The ld. CIT(A) by placing reliance on the decision of the Hon'ble Allahabad High Court in the case of Vacment India Ltd., rep .....

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..... from the perusal of the order of the ld. CIT(A), we find that what is stated by the ld. DR with regard to placing reliance on the ITR-6 form was not done by the ld. CIT(A) and that the reliance placed on the relevant columns of ITR-6 was done by the Hon'ble Allahabad High Court in the case referred to supra which had been relied upon by the ld. CIT(A). Moreover, we find that the decision relied u .....

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..... s, tax portion should include surcharge and education cess. Respectfully following the same, we do not find any infirmity in the order of the ld. CIT(A granting relief to the assessee. Accordingly, the grounds raised by the Revenue are dismissed. 4. In the result, appeal of the Revenue is dismissed. Order pronounced on 24/11/2021 by way of proper mentioning in the notice board.
Case laws, D .....

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