assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
special leave, filed by the Department relates to the question
whether MAT credit admissible in terms of Section 115JAA has
to be set off against ... normal tax liability over MAT liability in the
subsequent years. In this connection the following illustration
on MAT credit be seen:
Particulars Amount Rs.
Year
advance tax paid
by the assessee was in excess of MAT credit available to
the assessee?"
ITA No. 1890 of 2010 Page ... under
the MAT provisions under Section 115JA of the Income Tax Act
('the Tax' for brevity). Accordingly, the MAT credit in terms
assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
charging of interest under Section 234B and
234C before allowing MAT credit under Section 115JAA?
ITA 693/2010 Page ... hereinafter referred to as „the said Act‟) on
25.10.2004 whereby excess MAT credit allowed earlier to the assessee was
withdrawn and a demand
assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
assessment years immediately
succeeding the assessment year in which MAT is
paid. Unabsorbed MAT credit will be allowed to
be accumulated subject to the five ... credit available.
(4) The credit allowed will not bear any interest.
45.5 The rationale for allowing credit in respect
of taxes paid under MAT
Tribunal is right in law in holding that the carry forward MAT credit available to the assessee was to be adjusted first before charging interest ... assessing officer has not adjusted the carry forward MAT credit available to the assessee before charging interest under Section 234B
