2009 (4) TMI 1028

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.... JUDGMENT K. Raviraja Pandian, J. 1. The appeal has been preferred by the revenue against the order of the Income Tax Appellate Tribunal, Madras 'D' Bench, Chennai, dated 5.5.2008 passed in ITA No. 2089/Mds/2006. 2. The material facts culled out from the statement of facts in the memorandum of grounds of appeal are as follows: The assessee private limited Company filed....

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....justed first before adjusting TDS and advance tax. On further appeal by the Department to the Tribunal, the Tribunal relying on the decision of Chemplast Sanmar Limited reported in 83 TTJ(Chennai) Page 427 which held that MAT credit should be given in precedence of TDS and advance tax dismissed the appeal filed by the Department. Aggrieved by the order of the Tribunal, the revenue filed the presen....

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....ant and perused the materials available on record. 4. The very same issues have been considered by the Division Bench of this Court in T.C.A. Nos. 887 of 2004 etc. batch on 09.04.2009. In respect of the first question of law, the Division Bench has answered in favour of the assessee and against the revenue by observing as follows by concurring with CIT v. Jindal Experts Ltd. (2009) 222 CTR 8 (D....

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....ons of law, the Division Bench has observed as follows: 18. In the present case, the intention of the legislature is to give tax credit to tax and not to the tax and interest. Once the intention is clear, the revenue cannot rely on the Form-I to say that the MAT credit under Section 115JAA should be given only after tax and interest. Further we have answered the first question of law in f....