distinction between an adjustment and set off and the distinction between a legal set off and an equitable set off, were brought ... set off or adjusted. Apart from the rule enacted in Rule 6 abovesaid, there exists a right to set-off, called equitable, independently
Bench of Bombay High Court had
held that the right of equitable set off is recognized only if the claim
arises out of the same
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
submitted
that MAT credit available to an assessee for being set-off against the
tax payable under the statutory enactment cannot be ignored while
determining ... amount of MAT credit, when, in fact, such
credit is set off against the tax payable for the relevant previous year.
He submitted that
