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M/S Liberty India vs Commr.Of Income Tax,Karnal on 31 August, 2009

18. We have considered the rival submissions and perused the material on record as well as gone through the orders of revenue authorities. The finding of the CIT(A) that the MAT credit is held not to be eligible for deduction u/s 80IA as it is not directly linked to the eligible business but only comes into operation due to statutory provision. He relied on the decision of the Hon'ble Supreme Court in the case of Liberty India Vs. CIT cited supra. Therefore, we find no reason to interfere with the decision and CIT(A) and upholding the same, we dismiss the grounds raised by the assessee on this count.
Supreme Court of India Cites 21 - Cited by 862 - S H Kapadia - Full Document
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