https://www.taxtmi.com/caselaws?id=33222 MAT credit under Section 115JAA must be adjusted before interest is computed under Sections 234B and 234C, because the credit is intended to reduce tax liability and not tax plus interest. The Court also held that Rule 12(1)(a) and Form I cannot override the Act or alter the statutory order of adjustment of tax credits and tax payments. On that basis, the issues were answered in favour of the assessee and the revenue's appeal was dismissed. en-us Thu, 16 Apr 2009 00:00:00 +0530 Tue, 14 Jun 2011 04:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33222 MAT credit under Section 115JAA must be adjusted before interest is computed under Sections 234B and 234C, because the credit is intended to reduce tax liability and not tax plus interest. The Court also held that Rule 12(1)(a) and Form I cannot override the Act or alter the statutory order of adjustment of tax credits and tax payments. On that basis, the issues were answered in favour of the assessee and the revenue's appeal was dismissed. Case-Laws Income Tax Thu, 16 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33222