https://www.taxtmi.com/caselaws?id=403042 The Tribunal ruled in favor of the assessee in ITA No.5346/Mum/2017 for A.Y.2012-13 regarding the set off of MAT credit u/s.115JAA of the Income Tax Act. It held that for MAT credit calculation, the tax portion should include surcharge and education cess as per the return of income. The Tribunal referred to a Supreme Court case and noted that the ITR form includes these components. Consequently, the Tribunal directed the AO to accept the assessee's working for MAT credit calculation and allowed the appeal, also rejecting grounds for charging interest u/s.234C on assessed income. en-us Mon, 23 Nov 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403042 The Tribunal ruled in favor of the assessee in ITA No.5346/Mum/2017 for A.Y.2012-13 regarding the set off of MAT credit u/s.115JAA of the Income Tax Act. It held that for MAT credit calculation, the tax portion should include surcharge and education cess as per the return of income. The Tribunal referred to a Supreme Court case and noted that the ITR form includes these components. Consequently, the Tribunal directed the AO to accept the assessee's working for MAT credit calculation and allowed the appeal, also rejecting grounds for charging interest u/s.234C on assessed income. Case-Laws Income Tax Mon, 23 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403042