Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The ITAT allowed the assessee's appeal, directing the AO to grant MAT credit under section 115JAA against normal tax liability. The tribunal held that the assessee is entitled to set off accumulated MAT credits to the extent of the excess normal tax liability over MAT liability, with any remaining credit to be carried forward and adjusted in subsequent years as per law. The CIT(A)'s denial of MAT credit was found to lack legal basis. Consequently, the assessee's claim for relief through MAT credit was upheld in full.
The ITAT allowed the assessee's appeal, directing the AO to grant MAT credit under section 115JAA against normal tax liability. The tribunal held that the assessee is entitled to set off accumulated MAT credits to the extent of the excess normal tax liability over MAT liability, with any remaining credit to be carried forward and adjusted in subsequent years as per law. The CIT(A)'s denial of MAT credit was found to lack legal basis. Consequently, the assessee's claim for relief through MAT credit was upheld in full.
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