TaxTMI 
TaxTMI 
2015 (1) TMI 1446
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.... 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 the tax payable and Surcharge and Education Cess ....
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....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 the form (Part B-TTI) are as follows: 3. Gross tax payable (ente....
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....39;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 year 2012-13, the positiori was materially altered but, in the present case, since the dispute related to the assessment year....
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.... 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. Alternatively, the amount of MAT credit should also include surcharge and education cess for the purpose of allowing the credit aga....