https://www.taxtmi.com/caselaws?id=33296 The tribunal ruled in favor of the assessee, stating that the MAT credit should be adjusted against the tax payable before charging interest under sections 234B and 234C. The tribunal emphasized that the legislative intent, as expressed in section 115JAA, allows the set-off of MAT credit against the total income tax before any interest is charged. Consequently, the tribunal directed the AO to adjust the MAT credit first and then calculate the interest, leading to the appeal being allowed in favor of the assessee. en-us Mon, 22 Mar 2004 00:00:00 +0530 Thu, 14 Jun 2012 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33296 The tribunal ruled in favor of the assessee, stating that the MAT credit should be adjusted against the tax payable before charging interest under sections 234B and 234C. The tribunal emphasized that the legislative intent, as expressed in section 115JAA, allows the set-off of MAT credit against the total income tax before any interest is charged. Consequently, the tribunal directed the AO to adjust the MAT credit first and then calculate the interest, leading to the appeal being allowed in favor of the assessee. Case-Laws Income Tax Mon, 22 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33296