https://www.taxtmi.com/caselaws?id=70305 The Tribunal allowed the appeal, directing the AO to adjust the MAT credit of Rs. 8,64,72,445 before calculating interest under sections 234B and 234C. The Tribunal determined that this approach aligns with the legislative intent and statutory provisions, rejecting the CIT(A)'s reliance on Schedule G to Form No. 1, which was found contrary to Section 115JAA. The Tribunal emphasized that MAT credit should be treated as advance tax and adjusted prior to interest, ensuring conformity with the statute. en-us Mon, 22 Mar 2004 00:00:00 +0530 Thu, 20 Jun 2024 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70305 The Tribunal allowed the appeal, directing the AO to adjust the MAT credit of Rs. 8,64,72,445 before calculating interest under sections 234B and 234C. The Tribunal determined that this approach aligns with the legislative intent and statutory provisions, rejecting the CIT(A)'s reliance on Schedule G to Form No. 1, which was found contrary to Section 115JAA. The Tribunal emphasized that MAT credit should be treated as advance tax and adjusted prior to interest, ensuring conformity with the statute. Case-Laws Income Tax Mon, 22 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70305