https://www.taxtmi.com/caselaws?id=364414 The Tribunal held that MAT tax credit, including surcharge and education cess, should be deducted from the total tax determined on income before calculating interest under sections 234B and 234C. The Tribunal emphasized the importance of correctly determining and allowing MAT tax credit in the tax computation process to prevent loss of benefits due to variations in rates. The matter was remitted to the Assessing Officer for determining the correct MAT tax credit amount, and the appeal was allowed for statistical purposes, granting the assessee a hearing opportunity. en-us Thu, 26 Jul 2018 00:00:00 +0530 Sun, 29 Jul 2018 12:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364414 The Tribunal held that MAT tax credit, including surcharge and education cess, should be deducted from the total tax determined on income before calculating interest under sections 234B and 234C. The Tribunal emphasized the importance of correctly determining and allowing MAT tax credit in the tax computation process to prevent loss of benefits due to variations in rates. The matter was remitted to the Assessing Officer for determining the correct MAT tax credit amount, and the appeal was allowed for statistical purposes, granting the assessee a hearing opportunity. Case-Laws Income Tax Thu, 26 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364414