https://www.taxtmi.com/caselaws?id=368402 The High Court ruled in favor of the assessee in both issues. Regarding deduction u/s 80HHC, the Court emphasized the distinction between eligible and deductible profits, following Supreme Court precedent. On the set off of MAT credit against tax payable, the Court aligned with the Supreme Court's interpretation, ensuring that MAT credit is excluded from calculating assessed tax to prevent undue financial burden on the assessee. The judgments underscore the significance of accurate profit assessment and tax credit application in line with legal principles. en-us Tue, 11 Sep 2018 00:00:00 +0530 Sat, 06 Oct 2018 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368402 The High Court ruled in favor of the assessee in both issues. Regarding deduction u/s 80HHC, the Court emphasized the distinction between eligible and deductible profits, following Supreme Court precedent. On the set off of MAT credit against tax payable, the Court aligned with the Supreme Court's interpretation, ensuring that MAT credit is excluded from calculating assessed tax to prevent undue financial burden on the assessee. The judgments underscore the significance of accurate profit assessment and tax credit application in line with legal principles. Case-Laws Income Tax Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368402