2021 (1) TMI 634

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER PER M. BALAGANESH (A.M): This appeal in ITA No.5346/Mum/2017 for A.Y.2012-13 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-21, Mumbai in appeal No.CIT(A)-21/DCIT-13(1)(1)/IT-94/2015-16 dated 25/05/2017 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 28/02/2015 by the ld....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the ld. AO calculated MAT credit u/s.115JAA of the Act at Rs. 17,44,045/- as against Rs. 18,86,185/- claimed by the assessee. Consequently, interest u/s.234C of the Act was also charged by the ld. AO for the deficit in tax. This difference in figure arose because of the fact the assessee computed the difference in tax payable under normal provisions of the Act and tax payable u/s.115JB of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... No. Particulars As per return of Income As per Assessing Officer 10. Tax (Sr. No. 7) 64,08,831 64,08,831 11. Less: MAT credit 18,86,185 (Sr. No. 3-6) 17,44,045 (Sr. No. 1-4) 12. Total tax 45,22,646 46,64,786 5. As per Section 115JAA(5), "set off in respect of brought forward MAT credit shall be allowed for any assessment year to the extent of the di....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n of income in ITR-6 (i.e. prescribed form) under schedule for MAT credit (Schedule MATC), the assessee is precluded from filling up any figure as they are automatically picked from yet another schedule in the same ITR form i.e. 1d of Part-BTT1 and 5 of part-B-TT1, wherein the figures mentioned thereon, represent tax payable under normal provisions and u/s.115JB of the Act respectively, which is a....