Court Allows MAT Credit to Offset Advance Tax Before Interest Calculation; Form Rules Don't Affect Main Statute Interpretation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Setoff of MAT Credit before interest liability - form prescribed under the rules can never have any effect on the interpretation or operation of the parent statute – thus, Mat credit allowed to be set off from advance tax before calculating interest - HC....