2015 (1) TMI 1446

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.... For the Assessee : Shri Shri Akram Khan, Shri Taher Khokhawala ORDER Per Vijay Pal Rao, JM This appeal by the revenue is directed against the order dated 23.4.2013 of CIT(A) for the A.Y. 2011-12. The revenue has raised following grounds. "On the facts and in the circumstances of the case as well as in law, the Ld. CIT(A) erred in holding that MAT credit has to be deducted from....

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....High Court while considering the question of surcharge and education cess on tax payable has been calculated before allowing the credit of MAT u/s 115JAA held in para 5 to 7 as under:- 5. The only question which is raised pertains to the computation of tax in accordance with the modalities which are prescribed in the relevant form, ITR-6. IN so far as is material, the relevant entries in ....

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....t. The matter is placed beyond doubt by the parenthesis, which indicates that tax payable under entry 5 is to be 'arrived at by deducting the credit under section 115JAA of the Act (under entry 3) from the gross tax payable (under entry 4). The surcharge 'is computed on the amount reflected in entry 5. 7 The Tribunal has noted that from the next assessment year, the assessment yea....

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....ility, the surcharge and cess has to be calculated for the purpose of working out the grand tax liability. We also find merit and substance in the alternative contention of the assessee that if the MAT credit is taken into account without including the surcharge and education cess then the surcharge and education cess on the tax liability has to be calculated only after allowing the MAT credit. Al....