https://www.taxtmi.com/caselaws?id=285306 The revenue's appeal against the ITAT order denying tax credit under Section 115JAA was dismissed. The court upheld the decision allowing the tax credit claim based on precedence set by the Chemplast Sanmar Limited case. It was ruled that MAT credit should precede interest calculations under Sections 234A, 234B, and 234C, emphasizing legislative intent to provide tax credit. The court rejected reliance on Form-I for priority of adjustments, affirming all decisions in favor of the assessee. The appeal was ultimately dismissed as all legal questions were resolved in favor of the assessee. en-us Mon, 20 Apr 2009 00:00:00 +0530 Tue, 07 Jan 2020 12:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285306 The revenue's appeal against the ITAT order denying tax credit under Section 115JAA was dismissed. The court upheld the decision allowing the tax credit claim based on precedence set by the Chemplast Sanmar Limited case. It was ruled that MAT credit should precede interest calculations under Sections 234A, 234B, and 234C, emphasizing legislative intent to provide tax credit. The court rejected reliance on Form-I for priority of adjustments, affirming all decisions in favor of the assessee. The appeal was ultimately dismissed as all legal questions were resolved in favor of the assessee. Case-Laws Income Tax Mon, 20 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285306