https://www.taxtmi.com/caselaws?id=33206 The High Court ruled in favor of the assessee in an appeal concerning the calculation of interest under Sections 234B and 234C of the Income Tax Act for Assessment Year 2000-01. The court held that the MAT credit under Section 115JAA should be allowed before charging interest, rejecting the revenue's arguments. Additionally, the court determined that MAT credit should take priority over charging interest, aligning with legislative intent over the scheme outlined in Form 1. The High Court upheld the Tribunal's decision, dismissing the revenue's appeal based on the identical nature of the issues considered. en-us Wed, 15 Apr 2009 00:00:00 +0530 Tue, 14 Jun 2011 04:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33206 The High Court ruled in favor of the assessee in an appeal concerning the calculation of interest under Sections 234B and 234C of the Income Tax Act for Assessment Year 2000-01. The court held that the MAT credit under Section 115JAA should be allowed before charging interest, rejecting the revenue's arguments. Additionally, the court determined that MAT credit should take priority over charging interest, aligning with legislative intent over the scheme outlined in Form 1. The High Court upheld the Tribunal's decision, dismissing the revenue's appeal based on the identical nature of the issues considered. Case-Laws Income Tax Wed, 15 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33206