2009 (4) TMI 98

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... RAVIRAJA PANDIAN, J. - The revenue on appeal against the order of the Income Tax Appellate Tribunal, Madras 'A' Bench, Chennai, dated 21.04.2006 passed in ITA No.189/Mds/2005 in respect of the assessment year 2000-01. 2. The assessee filed its return for the assessment year 2000-01. The Assessing Officer granted MAT credit after calculating the interest under Section 234B and 234 C. Aggrieved ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tting off the Tax deducted at Source and Advance tax paid? 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. Whether the interest under Section 234 B and 234 C had to be calculated after giving the MAT credit against the tax payable on the basis of normal computation? ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and 234C of the Act. We are in agreement with the reasoning given by the Delhi High Court. 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 1st and 2nd questi....