← All Phrases

“MAT credit”

Special Rate ProvisionsSection 115JAASection 115JAA334 judgments

The decision most relied on for MAT credit is CIT v. K. Srinivasan (83 ITR 346), cited in 129 judgments on BharatTax.

Leading authorities on MAT credit

CIT v. K. Srinivasan
83 ITR 346 · 1972 · Supreme Court
129
citing judgments

The term 'tax' includes surcharge and cess. Surcharge and additional surcharge are considered components of income tax, which can be levied as a basic charge, surcharge, special surcharge, and additional surcharge.

Rain Commodities Ltd. v. DCIT
41 DTR 449 · 2010 · ITAT
71
citing judgments

The ITAT Special Bench in Rain Commodities Ltd. held that certain capital receipts, such as forfeited share warrants, if credited to the profit and loss account, are liable for book profits tax under Section 115JB (Minimum Alternate Tax).

Allied Motors v. CIT
297 ITR 322 · 2008 · Supreme Court
59
citing judgments

An amendment to a section is declaratory and clarifies the existing legal position, rather than introducing a new rule.

CIT v. Tulsyan NEC Ltd.
330 ITR 226 · 2011 · Supreme Court
39
citing judgments

A form prescribed under the Income-tax Rules cannot override the parent statute; the set-off of MAT credit balance against tax is not dependent on the computation of interest under section 234B.

Allied Motors (supra); CIT v. Raman Lal Hathi
217 CTR 105 · Reported
28
citing judgments

Amendments to Sections 234A, 234B, and 234C of the Income-tax Act, 1961, are curative and have retrospective effect, intended to clarify and remove anomalies. Minimum Alternate Tax (MAT) credit must be set off against tax payable before computing advance tax liability to avoid absurd results.

Finance Ltd. v. DCIT
395 ITR 291 · 2017 · High Court
26
citing judgments

MAT credit granted under section 115JAA should be inclusive of surcharge and cess.

CIT v. Vacment India
369 ITR 304 · 2014 · High Court
23
citing judgments

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.

SREI Infrastructure Finance Ltd. v. DCIT
72 Taxmann.com 239 · 2016 · High Court
15
citing judgments

MAT credit under Section 115JAA must be set off against the total tax liability, including surcharge and cess. This implies that cess forms part of the tax for the purpose of MAT credit adjustment.

Judgments citing MAT credit

The Dy. Commr. of Income Tax, Cir.-1(1), Rajkot-Gujarat vs. M/S Jyoti Cnc Automation Pvt. Ltd., Rajkot-Gujarat

In the result, appeal of the Revenue is dismissed

ITA 24/RJT/2022[2014-15]Status: DisposedITAT Rajkot29 Nov 2023AY 2014-15

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2014-15

Section 115JSection 143(3)Section 154

Book profit of Rs.49,40,64,786/- under Section 115JB of the Act. In the return of income, the assessee showed brought forward MAT credit of earlier years aggregating to Rs.5,09,25,592/-, the break-up being brought forward MAT credits Rs.8,83,534/- (A.Y. 2008-09), Rs.41 ... Rs.36,39,402/- (A.Y. 2010-11) and Rs.4,22,50,876/- (A.Y. 2011-12). Out of the aggregate MAT credit of Rs.5,09,25,592/-, the assessee claimed adjustment of Rs.55,75,928/- against the current year's net regular tax liability and the balance MAT credit of Rs.4

Indianoil Adani Ventures Limited (Formerly Known As "Indian Oiltanking Limited"), Mumbai vs. ITO - 10(3)(3), Mumbai

In the result, the appeals of the assessee in I

ITA 2402/MUM/2006[2002-2003]Status: DisposedITAT Mumbai06 Nov 2023AY 2002-2003

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

For Appellant: Ms. Vasanti Patel a/w DeepaFor Respondent: Shri K.C Selvamani, CIT-DR
Section 115JSection 143(3)Section 144C(13)Section 14ASection 234D

No.6,7 and 14 (iv) Expenditure on right of way – Ground No.8 and 9 (v) Unabsorbed depreciation and capital loss – Ground No.10 & 11 (v) MAT credit – Ground No.12 (vi) Interest under section 234D – Ground No.13 and 14 (vii) Short credit of TDS – Ground No.15 (viii) General – Ground No.15

Mallak Specialities Private Limited, Mumbai vs. DCIT 10(2)(2), Mumbai

In the result, appeal filed by the Assessee stands allowed

ITA 2045/MUM/2023[2014-2015]Status: DisposedITAT Mumbai22 Sept 2023AY 2014-2015

Bench: Shri B.R. Baskaran, Am & Shri N. K. Choudhry, Jm

For Appellant: Shri Milind Sahasrabudhe, CAFor Respondent: Smt. Mahita Nair, Sr. DR
Section 115JSection 143(1)Section 154Section 250

income to the tune of Rs. 16,58,12,780/- and paid the taxes as per normal provisions of the Act, after availing MAT credit to the tune of Rs. 1,95,46,205/-. The said Return was processed under section 143(1) of the Act on dated 14.05.2015 whereby ... amount of Rs. 19,54,61,790/- was allowed as MAT credit. 3.1 Later on the AO vide order dated 07.07.2016 under section 154 of the Act, reduced the MAT credit as per section 115JAA of the Act from

Mondelez India Foods P.Ltd (Formerly Known As Cadbury India Limited), Mumbai vs. Asst CIT RG 5(1)(2), Mumbai

In the result, appeal filed by the assessee for AY 2013-14 is allowed for statistical purpose

ITA 7104/MUM/2017[2013-14]Status: DisposedITAT Mumbai20 Sept 2023AY 2013-14

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

Section 143(3)Section 144C(13)Section 14A

Ground Nos.35 to 36 Ground Nos.39 to 40 Short-granting of credit of taxes deducted at source Ground No.37 Ground No.41 Non grant of MAT credit Ground No.38 Non grant of credit of distributed taxes paid Ground No.39 2. The assessee also raised an additional ground in both ... allow the claim in accordance with law. These grounds are allowed for statistical purpose. 23. Ground No. 38 pertains to non grant of MAT credit. We find that the Tribunal while considering the appeal for A.Y. 2011-12 has observed as under with regard to similar issue:- 34 ITA 7104/Mum/2017

ACIT(Ltu-1), Mumbai vs. M/S. Tcs Ltd, Mumbai

ITA 5904/MUM/2019[2014-15]Status: DisposedITAT Mumbai15 Sept 2023AY 2014-15

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

Section 10ASection 115JSection 14ASection 19Section 40Section 90(1)(a)

women Foundation treating the same as in the nature of donation – Grounds 1 (1.1 to 1.2)  Advertisement expenditure – Ground 2 (2.1)  Disallowance of MAT credit to be carried forward – Ground 3 (3.1)  Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign ... additional evidences submitted by the assesse. This ground is allowed for statistical purpose. 15. Ground 3 is with regard to the carry forward of MAT credit was not pressed by the Ld.AR during the course of hearing and, therefore, the same is dismissed as not pressed. 11 ITA 5199/Mum/2019

Tata Consultancy Serrvices Limited, Mumbai vs. DCIT-1, Mumbai

ITA 5199/MUM/2019[2014-15]Status: DisposedITAT Mumbai15 Sept 2023AY 2014-15

Bench: Shri Vikas Awasthy () & Ms. Padmavathy S. ()

Section 10ASection 115JSection 14ASection 19Section 40Section 90(1)(a)

women Foundation treating the same as in the nature of donation – Grounds 1 (1.1 to 1.2)  Advertisement expenditure – Ground 2 (2.1)  Disallowance of MAT credit to be carried forward – Ground 3 (3.1)  Disallowance of claim of deduction under section 10AA in respect of interest income – Grounds 4 (4.1 & 4.2)  Foreign ... additional evidences submitted by the assesse. This ground is allowed for statistical purpose. 15. Ground 3 is with regard to the carry forward of MAT credit was not pressed by the Ld.AR during the course of hearing and, therefore, the same is dismissed as not pressed. 11 ITA 5199/Mum/2019

Mondelez India Foods P.Ltd, Mumbai vs. Asst CIT RG 5(1)(2), Mumbai

ITA 1518/MUM/2017[2012-13]Status: DisposedITAT Mumbai31 Aug 2023AY 2012-13

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

Section 143(3)Section 144C(13)Section 14ASection 234ASection 234C

Ground Nos.35 to 36 Ground Nos.35 to & II 36 Addition on account of Annual Ground No.37 Ground No.37 Information Report Non grant of MAT credit Ground No.38 Ground No.38 Levy of interest under section 234A of the Ground No.39 Ground No.39 Act Levy of interest under section 234C ... reason to sustain the addition, we delete the addition made in this regard. Non grant of MAT 36. The Ld.AR submitted that the MAT credit is carried forward from A.Y. 2010-11 and the credit was modified due to additions made in the assessment order 44 ITAs 1240/Mum/2016 ITA 1518/Mum/2017

Mondelez India Foods P. Ltd, Mumbai vs. DCIT RG 5(1)(2), Mumbai

ITA 1240/MUM/2016[2011-12]Status: DisposedITAT Mumbai31 Aug 2023AY 2011-12

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

Section 143(3)Section 144C(13)Section 14ASection 234ASection 234C

Ground Nos.35 to 36 Ground Nos.35 to & II 36 Addition on account of Annual Ground No.37 Ground No.37 Information Report Non grant of MAT credit Ground No.38 Ground No.38 Levy of interest under section 234A of the Ground No.39 Ground No.39 Act Levy of interest under section 234C ... reason to sustain the addition, we delete the addition made in this regard. Non grant of MAT 36. The Ld.AR submitted that the MAT credit is carried forward from A.Y. 2010-11 and the credit was modified due to additions made in the assessment order 44 ITAs 1240/Mum/2016 ITA 1518/Mum/2017

T.C. Healthcare Pvt Ltd., Meerut vs. ACIT, Circle-25(1), New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 528/DEL/2023[2017-18]Status: DisposedITAT Delhi29 Aug 2023AY 2017-18

Bench: Allowing

Section 115JSection 143(3)Section 234CSection 89Section 90Section 90ASection 91

only issue to be decided in this appeal is as to whether the interest u/s 234C of the Act could be charged before allowing MAT Credit u/s 115JAA of the Act or not . 3. We have heard the rival submissions and perused the materials available on record. The assessee company ... charged interest u/s 234C of the Act for Rs 5,65,652/-. This was charged by considering the assessed tax before allowing MAT Credit u/s 115JAA of the Act. The assessee carried this issue before the ld. CIT(A) but could not succeed. Hence, it is in appeal before

Cochin International Airport Ltd, Ernakulam vs. The DCIT, Kochi

In the result, the assessee’s appeal is allowed

ITA 648/COCH/2022[2017-2018]Status: DisposedITAT Cochin31 Jul 2023AY 2017-2018

Bench: Shri Sanjay Arora, Am &Shrimanomohan Das, Jm

For Appellant: Sri.Gopi K, CAFor Respondent: Sri.Sajit Kumar Das, CIT-DR
Section 115Section 115JSection 143(3)Section 250Section 254Section 260Section 263Section 80

tabular form at para 2 (pg. 2) of his order, as under: Sl. AY Tax under Tax under MAT MAT Credit Utilised Balance to be Relevant order No. Normal provision available carried forward provision after utilization / if it had been utilized

Accenture Solutions P Ltd (Asol), Mumbai vs. Addl/Jt/ Dy/CIT/Asstt/ITO, National Faceless Assessment Centre, Delhi & the Dy CIT, Circle-14(1)(1), Mumbai

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

ITA 1255/MUM/2021[2016-17]Status: DisposedITAT Mumbai13 Jul 2023AY 2016-17

Bench: Shri Amit Shukla & Shri Amarjit Singhaccenture Solutions Vs. Additional/Joint/Deputy/ Private Limited (‘Asol’) Assistant Commissioner Plant 3, Godrej & Boyce Of Income Tax/Income- Complex, Phirojshah Tax Officer, National Nagar, Vikhroli West, Facelless Assessment Off L.B.S Marg, Centre, Delhi Mumbai – 400079 The Dcit, Circle 14(1)(1) स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaach3235M Appellant .. Respondent Appellant By : Nishant Thakkar/ Hiten Chande/ Ms. Jasmin Amalsadvala Respondent By : Azhar Zain Vayal Parambath Date Of Hearing 22.05.2023 Date Of Pronouncement 13.07.2023 आदेश / O R D E R Per Amarjit Singh (Am): This Appeal Filed By The Assesse Is Directed Against The Order Passed By The Ao (National Assessment Centre) Mumbai- 2, Dated 18.03.2021 For A.Y. 2016-17 As Per The Direction Of The Drp Issued U/S 144C (5) Of The Act. The Assessee Has Raised The Following Grounds Before Us: “On The Facts & Circumstances Of The Case & In Law, The Learned Ao Transfer Pricing Officer (Tpo), Based On The Directions Of The Hon'Ble Drp Has: General Ground 1. Erred In Assessing The Total Income Of The Appellant At Rs.2888,33,73,016 Against A Total Income Of Rs.2179,39,30,620 As Reported By The Appellant In Its Revised Return Of Income & Determining A Demand Of Rs.2186,98,55,847 Payable By The Appellant.

For Appellant: Nishant Thakkar/ Hiten Chande/For Respondent: Azhar Zain Vayal Parambath
Section 144CSection 92CSection 92C(3)

April 2015. Revised return was filed pursuant to merger of ASPL into the Appellant wherein all income and corresponding TDS, advance tax, MAT credit, DDT pertaining to ASPL was reported by the Appellant. The said merger was also noted by the AO in the draft assessment order dated 26 December

Genesys International Corporation Ltd., Mumbai vs. DCIT, CPC, Banglore

In the result appeal of the assessee is allowed for statistical purposes

ITA 440/MUM/2023[2018-19]Status: DisposedITAT Mumbai10 Jul 2023AY 2018-19

Bench: Shri Kuldip Singh & Shri Gagan Goyalgenesys International Corporation Ltd, 73A, Sdf Iii, 2Nd Floor, Seepz, Mumbai-400 096 Pan: Aaaca4528L ...... Appellant Vs. Dcit-Cpc Bangalore, Karnataka-560500 ..... Respondent

For Appellant: Shri Nishit Gandhi & Ms. Madhuri TambeFor Respondent: Shri Nihal Ranjan Samal, Sr. DR
Section 10ASection 115JSection 143(1)Section 143(2)Section 143(3)Section 250Section 36(1)

notice u/s. 143(2) dated 23-09-2019 was issued. Vide this assessment order AO made certain additions but the claim of the MAT credit was duly allowed to the assessee. We have gone through the intimation issued by CPC Bangalore u/s. 143(1) vide dated 17-11-2019 order

Salman Steels Private Limited, Muzaffarnagar vs. DCIT Circle-2, Muzaffarnagar

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 1510/DEL/2020[2015-16]Status: DisposedITAT Delhi10 Jul 2023AY 2015-16

Bench: Sh. C. M. Gargdr. B. R. R. Kumar

For Appellant: Sh. Sujit Kumar, ARFor Respondent: Sh. Anuj Garg, Sr. DR
Section 143(2)Section 145(3)Section 44A

instead of correct amount of loss at Rs. 1,31,09,652/-, apart from not considering the brought forward losses of earlier years and MAT credit as per return of income and therefore the assessed income and impugned demand, at any rate without prejudice, is incorrect and very excessive

M/S Kerala Feeds Limited, Thrissur vs. DCIT Cir (1)(1) & Tps, Thrissur

In the result, the assessee’s appeal is allowed

ITA 942/COCH/2022[2012-13]Status: DisposedITAT Cochin30 Jun 2023AY 2012-13

Bench: Shri Sanjay Arora, Am & Shri Aby T.Varkey, Jm

For Appellant: Sri. Varghese C.V., CA/ARFor Respondent: Smt.J.M.Jamuna Devi, Sr. DR
Section 115Section 115JSection 143Section 143(1)Section 144Section 147Section 154Section 155Section 2(45)Section 245D

assessment years, immediately succeeding the assessment year in which the credit becomes available (say years 2 to 6) (See section 115JAA(3)). However, the MAT credit is available for set off against the tax payable in succeeding years where the tax payable on income computed under the normal provisions

Jt. CIT (Ods) - CC -1(4), Mumbai vs. Ultratech Cement Ltd., Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 222/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

carried forward under Section 115JAA of the Act, for set-off in the subsequent years when the normal tax liability exceeds MAT liability (MAT Credit). It was pointed out that there is no express provision in Section 115JAA to allow an amalgamated / resulting company to carry forward and claim MAT ... case of ACIT v. Caplin Point Laboratories in order dated 31.01.2014 in ITA No.667/ MDS/ 2013. The ITAT in this case has held that MAT credit will be available to the assessee despite no express provision for the same in section 115JAA of the Act. The relevant findings

Ultra Tech Cement Limited, Mumbai vs. ACIT- CC 1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 220/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

carried forward under Section 115JAA of the Act, for set-off in the subsequent years when the normal tax liability exceeds MAT liability (MAT Credit). It was pointed out that there is no express provision in Section 115JAA to allow an amalgamated / resulting company to carry forward and claim MAT ... case of ACIT v. Caplin Point Laboratories in order dated 31.01.2014 in ITA No.667/ MDS/ 2013. The ITAT in this case has held that MAT credit will be available to the assessee despite no express provision for the same in section 115JAA of the Act. The relevant findings

DCIT Cir 1(4), Mumbai vs. M/S. Ultratech Cement Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1789/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

carried forward under Section 115JAA of the Act, for set-off in the subsequent years when the normal tax liability exceeds MAT liability (MAT Credit). It was pointed out that there is no express provision in Section 115JAA to allow an amalgamated / resulting company to carry forward and claim MAT ... case of ACIT v. Caplin Point Laboratories in order dated 31.01.2014 in ITA No.667/ MDS/ 2013. The ITAT in this case has held that MAT credit will be available to the assessee despite no express provision for the same in section 115JAA of the Act. The relevant findings

M/S. Ultratech Cement Ltd, Mumbai vs. DCIT Cent Cir-1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1466/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

carried forward under Section 115JAA of the Act, for set-off in the subsequent years when the normal tax liability exceeds MAT liability (MAT Credit). It was pointed out that there is no express provision in Section 115JAA to allow an amalgamated / resulting company to carry forward and claim MAT ... case of ACIT v. Caplin Point Laboratories in order dated 31.01.2014 in ITA No.667/ MDS/ 2013. The ITAT in this case has held that MAT credit will be available to the assessee despite no express provision for the same in section 115JAA of the Act. The relevant findings

J.B.Chemicals & Pharmaceuticals Ltd., Mumbai vs. DCIT -CC -2(1), Mumbai

The appeals of the assessee are partly allowed

ITA 2009/MUM/2019[2013-14]Status: DisposedITAT Mumbai27 Jun 2023AY 2013-14

Bench: Shri Aby T. Varkey () & Ms. Padmavathy S. ()

Section 234ASection 234CSection 35

raised as Additional Additional ground) ground) 7 Weighted deduction Ground No.5 - - - u/s.35(2AB) for clinical (raised as Trial expenditure Additional ground) 8 Allowance of MAT credit to Ground No.6 - Ground No.5 Ground No.5 include surcharge & & 7 (raised as (raised as (raised as Education cess and Carry Additional Additional Additional forward ... Chemicals & Pharmaceuticals Ltd the additional 100% of the deduction since the assessee in the computation of income has already claimed 100%. Allowance of MAT credit 17. The assessee is contending the issue of allowance of credit towards Minimum Alternate Tax (MAT) is inclusive of surcharge and education cess

J.B.Chemicals & Pharmaceuticals Ltd., Mumbai vs. DCIT -CC -2(1), Mumbai

The appeals of the assessee are partly allowed

ITA 2008/MUM/2019[2012-13]Status: DisposedITAT Mumbai27 Jun 2023AY 2012-13

Bench: Shri Aby T. Varkey () & Ms. Padmavathy S. ()

Section 234ASection 234CSection 35

raised as Additional Additional ground) ground) 7 Weighted deduction Ground No.5 - - - u/s.35(2AB) for clinical (raised as Trial expenditure Additional ground) 8 Allowance of MAT credit to Ground No.6 - Ground No.5 Ground No.5 include surcharge & & 7 (raised as (raised as (raised as Education cess and Carry Additional Additional Additional forward ... Chemicals & Pharmaceuticals Ltd the additional 100% of the deduction since the assessee in the computation of income has already claimed 100%. Allowance of MAT credit 17. The assessee is contending the issue of allowance of credit towards Minimum Alternate Tax (MAT) is inclusive of surcharge and education cess