https://www.taxtmi.com/caselaws?id=759931 The ITAT Delhi ruled in favor of the assessee regarding MAT credit denial. The AO had refused to set off tax liability under normal provisions with brought forward MAT credit because the assessee failed to claim it in the original ITR and didn't file a revised return. The ITAT held that Section 115JAA contains no condition restricting MAT credit allowance based on failure to carry forward in the return. The tribunal directed the AO to allow set-off of tax liability with available MAT credit and permit carry forward of balance MAT credit after verification. The CIT(A) order was set aside and the assessee's appeal was allowed. en-us Fri, 27 Sep 2024 00:00:00 +0530 Thu, 10 Oct 2024 17:55:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759931 The ITAT Delhi ruled in favor of the assessee regarding MAT credit denial. The AO had refused to set off tax liability under normal provisions with brought forward MAT credit because the assessee failed to claim it in the original ITR and didn't file a revised return. The ITAT held that Section 115JAA contains no condition restricting MAT credit allowance based on failure to carry forward in the return. The tribunal directed the AO to allow set-off of tax liability with available MAT credit and permit carry forward of balance MAT credit after verification. The CIT(A) order was set aside and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759931