LUPIN INVESTMENTS PRIVATE LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14(1)(1), MUMBAI, MUMBAI

ITA 5860/MUM/2026Status: DisposedITAT Mumbai18 September 2026AY 2018-1912 pages
AI SummaryPartly Allowed

What were the facts?

The assessee claimed set-off of brought forward MAT credit of amalgamating companies after a scheme of amalgamation was approved by the NCLT. The Assessing Officer and CIT(A) denied this claim, stating there was no specific provision for transferring MAT credit in cases of amalgamation.

What did the Tribunal hold?

The Tribunal held that the MAT credit of amalgamating companies is allowable in the hands of the amalgamated company. The scheme of amalgamation expressly provided for the transfer of such benefits, and Section 115JAA does not prohibit this in cases of amalgamation.

What were the issues?

Whether brought forward MAT credit of amalgamating companies can be set off by the amalgamated company. Whether the denial of MAT credit and consequential interest levies were justified.

Which sections of the Income-tax Act were involved?

Section 115JAA,Section 234A,Section 234B,Section 234D

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES, MUMBAI

Before: SHRI OM PRAKASH KANT & SHRI SIDDHARTHA NAUTIYAL

Pronounced: 18.09.2026

PER OM PRAKASH KANT, ACCOUNTANT MEMBER:

This appeal by the assessee is directed against order dated 26th March passed by the Ld. National Faceless Appeal Centre,

ITA 5860/MUM/2026 Lupin Investments Private Limited

Delhi [hereinafter shall be referred to as ‘Ld. CIT(A)] for assessment year 2018-19, raising following grounds:

2.

The Assessee has raised the f

The order continues below.

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