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1. MAT Credit admissible in terms of Section 115JAA has to be set off against the tax payable (assessed tax) before calculating interest under Sections 234A, 234B and 234C

2. Setoff of MAT Credit before interest liability - form prescribed under the rules can never have any effect on the interpretation or operation of the parent statute –...

3. Tax liability due to MAT u/s 115JB is subject to advance tax and in case of failure to deposit advance tax, interest u/s 234B is payable - SC

4. Interest under Section 244A denied - MAT credit under Section 115JA - MAT credit admissible in terms of section 115JAA has to be set off against the assessed tax...

5. Computation of MAT tax liability - the tax liability arising under normal provisions of the Act and u/s 115JB of the Act should be compared before allowing rebate u/s 88E - AT

6. Applicability of section 234A - Late filing of return or non filing of return where tax has been paid earlier - Interest can not be levied u/s 234A - HC

7. Charging interest u/s 234B - MAT credit - Here it is a clear-cut case of computational error. Anybody, either the AO or the assessee, would have computed the tax...

8. Eligibility for interest on refund out of MAT credit - The assessee became entitled to refund consequent upon the deduction given on MAT credit and the TDS - HC

9. Mat credit – MAT credit should be given before charging interest under Sections 234B and 234C of the Act - HC

10. MAT credit on the difference between gross tax liability as per normal provisions and MAT provisions as claimed by assessee in ITR instead of base tax as per normal...