https://www.taxtmi.com/caselaws?id=371834 The Revenue's appeal, challenging the treatment of Minimum Alternate Tax (MAT) credit in relation to advance tax payment for the Assessment year 2001-02, was dismissed. The Supreme Court clarified that MAT credit under Section 115JAA must be set off against tax payable before calculating interest under Sections 234A, 234B, and 234C of the Income Tax Act, 1961. The court emphasized that MAT credit should be treated on par with advance tax and advance Tax Deducted at Source (TDS). The High Court aligned with Supreme Court precedents, dismissing the Revenue's appeal and ruling in favor of the assessee regarding the calculation of interest under Sections 234B and 234C. en-us Thu, 15 Nov 2018 00:00:00 +0530 Wed, 12 Dec 2018 13:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371834 The Revenue's appeal, challenging the treatment of Minimum Alternate Tax (MAT) credit in relation to advance tax payment for the Assessment year 2001-02, was dismissed. The Supreme Court clarified that MAT credit under Section 115JAA must be set off against tax payable before calculating interest under Sections 234A, 234B, and 234C of the Income Tax Act, 1961. The court emphasized that MAT credit should be treated on par with advance tax and advance Tax Deducted at Source (TDS). The High Court aligned with Supreme Court precedents, dismissing the Revenue's appeal and ruling in favor of the assessee regarding the calculation of interest under Sections 234B and 234C. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371834