2014 (1) TMI 1774

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.... Vijayaraghavan, Advocate O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: This appeal filed by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals) IX, Chennai dated 27.12.2012 relevant to the assessment year 2009-10. 2. Brief facts of the case are that the assessee is an individual, filed his return admitting total income at Rs. 23,05,710/-. Under book profit ....

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.... the submission of the ld. Counsel for the assessee, this ground of appeal of the Revenue is allowed. 6. The next ground of appeal relating to MAT credit of amalgamated company. The issue involved in this appeal is whether the amalgamated company is entitled to allow the credit of entitled MAT credit or not. According to the Assessing Officer, the provisions of section 115JA and section 115JB of ....

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....h the orders of authorities below. The case of the assessee is that the amalgamation between the amalgamating company [Malind Laboratories Pvt. Ltd.] and the amalgamated company i.e. the assessee was approved by the Hon'ble Madras High Court vide order dated 25.09.2008 and on amalgamation, all the assets and liabilities are vested with the amalgamated company and the amalgamated company i.e. the a....

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....ssets, claims, etc. of the erstwhile company, which is also supported by Hon'ble High Court order in this regard. Further, when the assessee company is now being assessed in place of erstwhile company and the TDS credit pertaining to the erstwhile company is being given credit to the assessee company, there is no reason why a different treatment should be given to the MAT credit available pert....