2009 (4) TMI 50

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....anan for the Respondent. JUDGMENT The Judgment of the Court was delivered by K. RAVIRAJA PANDIAN, J. - The appeal has been preferred by the revenue against the order of the Income Tax Appellate Tribunal, Madras D' Bench, Chennai, dated 23.12.2005 passed in ITA No.595/Mds/2004. 2. The material facts culled out from the statement of facts in the memorandum of grounds of appeal are as fol....

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....ar as tax credit under Section 115JAA is concerned the Commissioner of Income-tax (Appeals) observed that the assessing officer should have treated the tax credit allowance under Section 115JAA on par with TDS and is directed to do so. Correspondingly, interest calculated under Section 234-B and 234-C also will undergo changes and the assessing officer is directed to recompute the same. Against th....

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....s been considered by the Division Bench of this Court in T.C.A.Nos.887 of 2004 etc. batch on 09.04.2009 and Division Bench has answered the issues in favour of the assessee and against the revenue by observing thus: "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 ....