CHANGEPOND TECHNOLOGIES PVT LTD.,CHENNAI vs. ACIT (OSD) CORPORATE RANGE 1, CHENNAI

PDF · subscribers
ITA 3202/CHNY/2017Status: DisposedITAT Chennai08 August 2018AY 2014-153 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The tribunal held that MAT credit should be calculated inclusive of surcharge and educational cess, following previous co-ordinate bench decisions.

What were the facts?

The assessee, engaged in software development, appealed against the assessment order for AY 2014-15. The Assessing Officer (AO) did not consider surcharge and educational cess while granting MAT credit, which the CIT(A) upheld.

What were the issues?

The primary issue was whether surcharge and educational cess should be included in the calculation of Minimum Alternate Tax (MAT) credit.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, CHENNAI

Before: SHRI GEORGE MATHAN & SHRI S. JAYARAMAN

For Respondent: Shri AR.V. Sreenivasan, Sr. AR
Hearing: 08.08.2018Pronounced: 08.08.2018

आदेश/ O R D E R

PER S. JAYARAMAN, ACCOUNTANT MEMBER :

1.

The assessee filed this appeal against the order of Commissioner of Income Tax (Appeals)-1, Chennai in dated 27.11.2017 for assessment year 2014-15.

2.

M/s. Changepond Technologies Pvt. Ltd., the assessee, is engaged in the business of software development. While completing the assessment u/s. :-2-: 143(3) for assessment year 2014-15, the AO, inter alia, while giving MAT credit did not consider the surcharge and educational cess. Aggrieved, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A) dismissed the appeal. Aggrieved, the assessee filed this appeal.

3.

None appeared on behalf of the assessee. The Ld DR supported the orders of the lower authorities, although, the co-ordinate bench decision in the case of DCIT vs M/s. Saint Gobain Gyproc India Ltd (ITA No. 2122/Mds/2015 dated 03.02.2016) on this issue is in favour of the assessee, which was further applied by this tribunal in the case of ACIT vs M/s. Photon Infotech Pvt. Ltd., dated 20.03.2018. Following the co-ordinate bench decision, wherein it is held that MAT credit was to be calculated inclusive of surcharge and educational cess, we allow the assessee’s appeal.

4.

In the result, the assessee’s appeal is allowed.

Order pronounced in the open court on 08th August, 2018 at Chennai.

Recent GST High Court judgments

Search GST case law →