CIT v. Vacment India

369 ITR 304High Court2014#5108 most cited

What is CIT v. Vacment India authority for?

The High Court holds that tax credit cannot be claimed on surcharge and education cess. The calculation of MAT credit should be done after applying surcharge and education cess.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Also referred to as

CIT v. Vacment India · 369 ITR 304 · MAT credit · surcharge · education cess · tax credit · section 115JB · section 115JA · book profit · Allahabad High Court

Also reported as

55 Taxmann.com 314

Judgments citing CIT v. Vacment India

Crompton Greaves Ltd, Mumbai vs. DCIT Cir 6(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 4831/MUM/2012[2007-08]Status: DisposedITAT Mumbai16 Dec 2015AY 2007-08

Bench: Shri D. Karunakara Rao & Shri Amarjit Singhi.T.A. No.4831/M/2012 (Assessment Year: 2007-2008) फनाभ/ M/S. Crompton Greaves Ltd, Dcit-6(2), 6Th Floor, C.G. House, Aayakar Bhavan, M.K. Road, Vs. Dr. A.B. Road, Prabhadevi, Mumbai-400020. Mumbai-400025. स्थामी रेखा सं./ Pan : Aaacc3840K (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) अऩीराथी की ओय से / Appellant By : Shri Pradip Kapasi प्रत्मथी की ओय से/ Respondent By : Shri Durga Datt, Dr

For Appellant: Shri Pradip KapasiFor Respondent: Shri Durga Datt, DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 154Section 154(3)

…e issues relating to the finality of the said decision of the Tribunal in the case of M/s. Classic Shares & Stock Broking Services Ltd (supra) and applicability of the subsequent judgment of the Allahabad High Court in the case of CIT vs. Vacment India [2015] 369 ITR 304 (All.), dated 29.10.2014 and sustaining of the concession granted by the employee of the assessee when the issue is already settled by the Hon’ble High Court in favour of the assessee. 5. On hearing both the parties, we find the judgment of the Allahabad High Court in the case of Vacment India (supra), dated 29.10.2014 is subsequent in time qua…

Orient Paper & Industries Limited, Kolkata vs. DCIT, Circle - 6, Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 170/KOL/2012[2008-09]Status: DisposedITAT Kolkata04 Dec 2015AY 2008-09

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 143(3)Section 14A

…AT credit against tax before levy of surcharge and education cess, the ld. Counsel for the assessee at the time of hearing before us has relied, inter alia, on the decision of the Hon’ble Allahabad High Court in the case of CIT –vs.- Vacment India reported in 369 ITR 304, wherein it was held by relying on the entries made in relevant form ITR-6 providing the method of computation of tax liability that the ‘tax payable’ is to be arrived at after deducting credit on account of minimum alternate tax from ‘gross tax payable’ and on this amount of ‘tax payable’, surcharge and cess are to be computed. However, as held…

Hindustan Motors Limited, Kolkata vs. DCIT, Circle - 6, Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 171/KOL/2012[2008-09]Status: DisposedITAT Kolkata20 Nov 2015AY 2008-09

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 14A

…AT credit against tax before levy of surcharge and education cess, the ld. Counsel for the assessee at the time of hearing before us has relied, inter alia, on the decision of the Hon’ble Allahabad High Court in the case of CIT –vs.- Vacment India reported in 369 ITR 304, wherein it was held by relying on the entries made in relevant form ITR-6 providing the method of computation of tax liability that the ‘tax payable’ is to be arrived at after deducting credit on account of minimum alternate tax from ‘gross tax payable’ and on this amount of ‘tax payable’, surcharge and cess are to be computed. However, as held…