https://www.taxtmi.com/caselaws?id=71326 The tribunal dismissed the appeal on the validity of re-opening assessments under section 147 as it was not pressed. It allowed the appeal regarding the computation of deduction under Explanation (viii) below section 115JA, deciding it should be based on book profits. However, the tribunal dismissed the appeal concerning the calculation of interest under sections 234B and 234C, agreeing with the revenue that the MAT credit issue is debatable and not rectifiable under section 154, thus upholding the CIT(A)'s decision. en-us Wed, 29 Jun 2005 00:00:00 +0530 Tue, 30 Apr 2024 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71326 The tribunal dismissed the appeal on the validity of re-opening assessments under section 147 as it was not pressed. It allowed the appeal regarding the computation of deduction under Explanation (viii) below section 115JA, deciding it should be based on book profits. However, the tribunal dismissed the appeal concerning the calculation of interest under sections 234B and 234C, agreeing with the revenue that the MAT credit issue is debatable and not rectifiable under section 154, thus upholding the CIT(A)'s decision. Case-Laws Income Tax Wed, 29 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71326