2009 (4) TMI 32

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.... by K.RAVIRAJA PANDIAN, J. - The revenue on appeal against the order of the Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai, 29.08.2008 passed in ITA No.2103/Mds/07 in respect of the assessment year 2000-01. 2. The assessee is a Spinning Mill. For the Assessment Year 2000-01, the assessee filed its return of income, wherein the Assessing Officer has calculated the interest payable u....

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.... MAT credit before charging interest u/s 234B and 234C? 2. Whether on the facts and circumstances of the case the MAT credit can be given priority of set off against tax payable, contrary to the scheme of Schedule G of Form 1?". 3. We heard the arguments of the learned counsel for the appellant and perused the materials available on record. 4. The very same issues have been considered by ....

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....bsp;The learned counsel appearing for the revenue has not produced any materials or given compelling reasons to take a contrary view with that of the Delhi High Court.  In such circumstances, we answer the  first question in favour of the assessee and against the revenue. 5. In respect of the 2nd question of law, the Division Bench has observed as follows:- "18. In the present case....