2014 (10) TMI 787
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....e Revenue under Section 260A of the Income Tax Act, 1961 arises from an order of the Income Tax Appellate Tribunal dated 22 May 2014. The assessment year to which the appeal relates is AY 2011-12. The Revenue has formulated the following question of law in support of the appeal: "Whether the Hon'ble ITAT has erred in law as well as in the facts and circumstances of the case in allowing the c....
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....er years under Section 115JAA which is apparently wrong and hence, ACIT (CPC) has erred on facts and as well as on law in rejecting the application filed under Section 154 of the I.T. Act. 3. Because without prejudice to the above mentioned grounds, if the credit of tax paid under Section 115JAA is to be allowed after charging surcharge and education cess, then the credit which has been allowed o....
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....ax paid in earlier years (if 2c is more than 1) (7 of Schedule MATC) 4 5 Tax payable after credit under section 115JAA [(3-4)] 5 6 Surcharge on 5 6 7 Education cess, including secondary and higher education cess on (5+6) 7 8 Gross tax liability (5+6+7) 8 The aforesaid entries leave no manner of ambiguity in regard to the method of computation of tax liability. Entry 3 requires comput....