Sec. 115JAA Archives - taxcaselaw.com

Calcutta H.C : The Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess

Avijit Das / August 12, 2016

High Court Of Calcutta Srei Infrastructure Finance Ltd. vs. DCIT, Circle-11(2), Kolkata Section 115JAA, 115JB Assessment year 2008-09 Girish Chandra […]

Sec. 115JAA

Allahabad H.C : Allowing the calculation of tax in violation of the provisions of the relevant Finance Act which prescribe calculation of tax as inclusive of cess and surcharge.

Madras H.C : the refund had arose on account of the MAT credit and the same could only be carried forward to set off and refund of MAT credit cannot be granted as per section 115JAA(5) and consequently, interest on such refund under Section 244A cannot be granted

S.C : Whether MAT credit admissible in terms of s. 115JAA has to be set off against the tax payable (assessed tax) before calculating interest under ss. 234A, 234B and 234C of the IT Act

Bombay H.C : Credit for brought forward MAT is to be given from gross demand before charging interest under s. 234B

Madras H.C : The MAT credit is to be set off from the tax payable before levying interest under ss. 234B and 234C of the IT Act, 1961 ? 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 Sch. G of Form 1