2009 (4) TMI 53

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....r. M. P. Senthilkumar (TC 1495/07) for the Respondent. JUDGMENT The Judgment of the Court was delivered by K. RAVIRAJA PANDIAN, J. - The revenue on appeal against the order of the Income Tax Appellate Tribunal, Madras 'A' Bench, Chennai, dated 03.02.2006 passed in ITA Nos.278, 279/Mds/2003. The following questions of law have been formulated in respect of T.C.No.1494/07:- "1. Whether i....

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....e assessee had brought forward the MAT credit? 2. Whether in the facts and circumstances of the case, the Tribunal was right in holding that MAT credit is to be set off against from the tax payable before setting off the tax deducted at source and advance tax paid? 3. Whether on the facts and circumstances of the case, the MAT Credit can be given priority of set off against tax payable, cont....

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.... as the one advanced before the Delhi High Court cited supra. The Delhi High Court has considered the relevant provisions and dealt with the matter in detail and held  that the credit under Section 115JAA should be given effect to before charging of interest under Section 234A, 234B and 234C of the Act. We are in agreement with the reasoning given by the Delhi High Court.  The learned co....

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....interest under Section 234B and 234C. Rule 12(1)(a) and Form-I cannot go beyond the provisions of the Act. Form-I cannot lay down the order of priority of adjustment of TDS, advance Tax, MAT credit under Section 115JAA which is contrary to the provisions of the Act. The order passed by the Tribunal is in accordance with law and we do not find any error or illegality in the order of the Tribunal so....