https://www.taxtmi.com/caselaws?id=282909 On amalgamation, MAT credit earned by the amalgamating company under section 115JAA was treated as transferable to the amalgamated company because the statute did not prohibit such carry forward and set-off in that situation. The attempted denial of that credit through summary processing under section 143(1) was held unsustainable, as the issue required examination of relevant details and could not be conclusively decided within the limited scope of that provision; any further scrutiny would have to follow the regular assessment route. The transferred MAT credit was therefore recognised, and the adjustment made in summary processing was set aside. en-us Wed, 06 Jun 2012 00:00:00 +0530 Fri, 30 Aug 2019 17:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282909 On amalgamation, MAT credit earned by the amalgamating company under section 115JAA was treated as transferable to the amalgamated company because the statute did not prohibit such carry forward and set-off in that situation. The attempted denial of that credit through summary processing under section 143(1) was held unsustainable, as the issue required examination of relevant details and could not be conclusively decided within the limited scope of that provision; any further scrutiny would have to follow the regular assessment route. The transferred MAT credit was therefore recognised, and the adjustment made in summary processing was set aside. Case-Laws Income Tax Wed, 06 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282909