https://www.taxtmi.com/caselaws?id=382489 Surcharge and cess are included in the tax amount for computing MAT credit under Section 115JAA, because the statutory scheme treats them as part of income tax for MAT purposes. The court also applied K. Srinivasan to confirm that "tax" includes surcharge, rejecting the Revenue's contention that the principle was confined to the Finance Act context. A CBDT circular noted as consistent with this approach reinforced the interpretation. The practical effect is that MAT credit computation cannot exclude surcharge and cess where the governing provisions indicate that they form part of tax. en-us Wed, 19 Jun 2019 00:00:00 +0530 Thu, 24 Dec 2020 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382489 Surcharge and cess are included in the tax amount for computing MAT credit under Section 115JAA, because the statutory scheme treats them as part of income tax for MAT purposes. The court also applied K. Srinivasan to confirm that "tax" includes surcharge, rejecting the Revenue's contention that the principle was confined to the Finance Act context. A CBDT circular noted as consistent with this approach reinforced the interpretation. The practical effect is that MAT credit computation cannot exclude surcharge and cess where the governing provisions indicate that they form part of tax. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382489