https://www.taxtmi.com/caselaws?id=285305 The Tribunal directed the AO to reconsider MAT credit before calculating interest under s. 234B, citing decisions from the Madras and Bombay High Courts. It held the amendment to s. 234B as retrospective, clarifying that MAT credit should be factored in for interest calculation. The High Court upheld the Tribunal's decision, dismissing the tax appeal and confirming the correct interpretation and application of the law. en-us Mon, 03 Dec 2012 00:00:00 +0530 Tue, 07 Jan 2020 12:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285305 The Tribunal directed the AO to reconsider MAT credit before calculating interest under s. 234B, citing decisions from the Madras and Bombay High Courts. It held the amendment to s. 234B as retrospective, clarifying that MAT credit should be factored in for interest calculation. The High Court upheld the Tribunal's decision, dismissing the tax appeal and confirming the correct interpretation and application of the law. Case-Laws Income Tax Mon, 03 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285305