2009 (4) TMI 485

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....- The appeals in T. C. (A) Nos. 143 to 1145 of 2008 have been preferred by the revenue against the order of the Income- tax Appellate Tribunal, Madras "C" Bench, Chennai, dated 9-4-2007 passed in ITA Nos. 1844, 1845 and 1846/Mds/2005 relating to the assessment years 1998-99, 1999-2000 and 2000-01 respectively. 2. The issue involved in all the appeals is one and the same. The material facts a....

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....e the Income-tax Appellate Tribunal, which allowed the appeals in favour of the assessee following its own order in the case of Chemplast Sanmar Ltd. v. Dy. CIT [2004] 3 SOT 620 (Chennai) and the decision of the Chandigarh Bench in the case of Phillips India Ltd. v. Asstt. CIT [2005] 92 ITD 441. Aggrieved by the same, the revenue has filed this appeal by formulating the following questions of law ....

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.... favour of the assessee and against the revenue by observing as follows (pages 239, 246) : "7. In respect of the first question of law, the arguments advanced by the counsel on either side are the same as the one advanced before the Delhi High Court cited supra. The Delhi High Court has considered the relevant provisions and dealt with the matter in detail and held that the credit under section....

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....e i.e., the MAT credit under section 115JAA should be given effect to before charging the interest under sections 234B and 234C. Rule 12(1)(a) and Form 1 cannot go beyond the provisions of the Act. Form I cannot lay down the order of priority of adjustment of TDS, advance tax, MAT credit under section 115JAA which is contrary to the provisions of the Act. The order passed by the Tribunal is in acc....