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“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

Brahmos Realty Private Limited, Mumbai vs. Income Tax Officer Ward 9(2)(1), Mumbai

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

ITA 4119/MUM/2025[2024-25]Status: DisposedITAT Mumbai19 Aug 2025AY 2024-25

Bench: Shri Amit Shukla & Shri Arun Khodpiaआयकर अपील सं. / Ita No.4119/Mum/2025 निर्धारण वर्ष / Assessment Year :2024-25 Brahmos Realty Private Limited A-10002, Aristo Sappyhire, 2Nd Floor, Hasnabad Lane, Santakruz (W), Mumbai-400 054 (M.H) Pan: Aadcr5685C ...........अपीलार्थी / Appellant बनाम / V/S. The Income Tax Officer, Ward-9(2)(1),Mumbai (M.H.) .......प्रत्यर्थी / Respondent Assessee By Revenue By : Shri B.N Rao : Shri Aditya Rai, Sr. Dr सुनवाई की तारीख / Date Of Hearing :13.08.2025 घोषणा की तारीख / Date Of Pronouncement : 19.08.2025 2 Brahmos Realty Private Limited Vs. Ito, Ward-9(2)(1)

For Respondent: Shri B.N Rao
Section 115BSection 115JSection 143(1)Section 250

health and education cess of 4% and accordingly, gross tax was computed at Rs.10,24,096/-. The assessee claimed that it is entitled for MAT credit of Rs.2,53,634/- and accordingly, has utilized while filing the return for the current year under normal taxation u/s.115BAA i.e. filing of Form ... taxation at the rate of 25 percent. The appellant filed Form 10-IC on 25.10.2024 opting for option under section 115BAA. The appellant had MAT credit of Rs.2,53,634/- and utilized it while return of income during the current year in the normal taxation. The total tax liability reflected

Deputy Commissioner of Income Tax Circle 1(1)(1), Vadodara vs. Gujarat State Electricity Corporation Limited, Vadodara

Appeal is allowed in above terms

ITA 1655/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad12 Aug 2025AY 2014-15

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

For Appellant: Shri Manish J Shah & Shri RushinFor Respondent: Shri Rignesh Das, CIT. DR
Section 250Section 50(2)

depreciation. 4. The learned CIT(A) erred in law and on facts in issuing direction to the Assessing Officer to verify the claim of MAT credit and instead of issuing the direction, the learned CIT(A) ought to have allowed the MAT credit himself. 5. The appellant craves leave ... assessee had raised its grievance against the order of the Ld. CIT(A) on two issues i.e. claim of unabsorbed depreciation and claim of MAT credit, which the Ld. CIT(A) had directed the AO to verify and allow the said claims as per law. Ld. Counsel for the assessee

Gujarat State Electricity Corpn. Ltd., Vadodara vs. The ACIT, Circle-1(1)(1), Vadodara

Appeal is allowed in above terms

ITA 1598/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad12 Aug 2025AY 2016-17

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

For Appellant: Shri Manish J Shah & Shri RushinFor Respondent: Shri Rignesh Das, CIT. DR
Section 250Section 50(2)

depreciation. 4. The learned CIT(A) erred in law and on facts in issuing direction to the Assessing Officer to verify the claim of MAT credit and instead of issuing the direction, the learned CIT(A) ought to have allowed the MAT credit himself. 5. The appellant craves leave ... assessee had raised its grievance against the order of the Ld. CIT(A) on two issues i.e. claim of unabsorbed depreciation and claim of MAT credit, which the Ld. CIT(A) had directed the AO to verify and allow the said claims as per law. Ld. Counsel for the assessee

Gujarat State Electricity Corpn. Ltd., Vadodara vs. The ACIT, Circle-1(1)(1), Vadodara

Appeal is allowed in above terms

ITA 1597/AHD/2024[2015-16]Status: DisposedITAT Ahmedabad12 Aug 2025AY 2015-16

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

For Appellant: Shri Manish J Shah & Shri RushinFor Respondent: Shri Rignesh Das, CIT. DR
Section 250Section 50(2)

depreciation. 4. The learned CIT(A) erred in law and on facts in issuing direction to the Assessing Officer to verify the claim of MAT credit and instead of issuing the direction, the learned CIT(A) ought to have allowed the MAT credit himself. 5. The appellant craves leave ... assessee had raised its grievance against the order of the Ld. CIT(A) on two issues i.e. claim of unabsorbed depreciation and claim of MAT credit, which the Ld. CIT(A) had directed the AO to verify and allow the said claims as per law. Ld. Counsel for the assessee

Universal Trading Company Limited, Kolkata vs. DCIT, Circle 5(1), Kolkata

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 223/KOL/2025[2012-13]Status: DisposedITAT Kolkata12 Aug 2025AY 2012-13

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115Section 115JSection 154Section 237Section 244ASection 250

that on the facts and in the circumstances of the case and in law, the lower authorities erred in not allowing the MAT credit of Rs.16,954/- u/s 115JAA of the Act, while computing the tax liability by the assessee. 2. For that on the facts and in the circumstances ... claim of refund was reduced by ₹17,338/- and the DDT (Dividend Distribution Tax) refund of ₹22,38,770/- was not allowed as the MAT credit for income-tax amount of ₹5,65,118/- only was allowed instead of ₹5,82,072/- as claimed by the assessee as education cess

Tata Motors Limited, Mumbai vs. Deputy Commissioner of Income Tax Circle 3(4), Mumbai

ITA 3511/MUM/2025[2014-15]Status: DisposedITAT Mumbai12 Aug 2025AY 2014-15

Bench: Shri Amit Shukla, Hon'Ble & Shri Arun Khodpia, Hon'Ble

Section 115BSection 115JSection 143(2)Section 143(3)Section 147Section 148Section 154Section 250Section 32A

provisions, disallowed the claim for deduction u/s 32AC of the Act amounting to Rs.14.64 crores, dropped the proposed adjustment pertaining to set-off of MAT credit against tax computed u/s 115BBD amounting to Rs.163.23 crores and assessed the income at Rs.233.21 crores u/s 115JB of the Act. 7. Aggrieved with

Dy. Commissioner of Income Tax Circle 10(1), Delhi, Cr Building vs. Indus Towers Limited, Gurgram

ITA 2805/DEL/2023[2011-12]Status: DisposedITAT Delhi08 Aug 2025AY 2011-12

Bench: Shri Yogesh Kumar U.S & Shri Manish Agarwal

Section 142Section 143(3)

Others 15. That on the facts and circumstances of the case and in law, the CIT(A) erred in not allowing MAT credit in respect of additional tax (MAT) liability assessed for immediately preceding year. 16. That on the facts and circumstances of the case and in law, the authorities

Indus Towers Ltd., Gurugram, Haryana vs. Deputy Commissioner of Income-Tax, Circle 12(1), New Delhi

ITA 2607/DEL/2023[2011-12]Status: DisposedITAT Delhi08 Aug 2025AY 2011-12

Bench: Shri Yogesh Kumar U.S & Shri Manish Agarwal

Section 142Section 143(3)

Others 15. That on the facts and circumstances of the case and in law, the CIT(A) erred in not allowing MAT credit in respect of additional tax (MAT) liability assessed for immediately preceding year. 16. That on the facts and circumstances of the case and in law, the authorities

Rsd Containers Private Limited, Jaipur vs. ITO, Ward 7(1), Jaipur

In the result, the appeal of the assessee is allowed

ITA 1320/JPR/2024[2017-18]Status: DisposedITAT Jaipur06 Aug 2025AY 2017-18
For Appellant: Shri Mukesh Khandelwal, C.AFor Respondent: Mrs. Anita Rinesh, JCIT, Sr.-DR
Section 115BSection 147Section 148Section 149Section 151Section 151ASection 153CSection 68

available for credit as per return. Tax Liability should have been recomputed on assessed income after giving credit of MAT Credit available. 8. The appellant craves to add, amend or delete the grounds of Appeal at the time of hearing of appeal.” 3. Succinctly, the fact as culled out from ... available for credit as per return. 11.1 Since, I have already decided issue of giving credit of any losses including unabsorbed depreciation, which includes MAT credit also against undisclosed income u/s. 68 of the Act in foregoing paragraph 10 of this order, the ground no. 7 raised by the appellant

Asst.Commissioner of Income Taxcentral Circle-2(4), Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3885/MUM/2025[2018-19]Status: DisposedITAT Mumbai06 Aug 2025AY 2018-19

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Assistant Commissioner of Income Tax, Central Circle2, 4 Mumbai, Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3884/MUM/2025[2017-18]Status: DisposedITAT Mumbai06 Aug 2025AY 2017-18

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Assistant Commissioner of Income Tax, Central Circle2, 4 Mumbai, Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3883/MUM/2025[2021-22]Status: DisposedITAT Mumbai06 Aug 2025AY 2021-22

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Assistant Commissioner of Income Tax, Central Circle2, 4 Mumbai, Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3882/MUM/2025[2023-24]Status: DisposedITAT Mumbai06 Aug 2025AY 2023-24

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Assistant Commissioner of Income Tax, Central Circle2, 4 Mumbai, Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3881/MUM/2025[2022-23]Status: DisposedITAT Mumbai06 Aug 2025AY 2022-23

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Assistant Commissioner of Income Tax, Central Circle2, 4 Mumbai, Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3880/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Aug 2025AY 2020-21

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Asst.Commissioner of Income Taxcentral Circle-2(4), Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3879/MUM/2025[2019-20]Status: DisposedITAT Mumbai06 Aug 2025AY 2019-20

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Asst. Commissioner of Income Tax, Central Circle-2(4), Mumbai vs. Jyothy Labs Limited, Mumbai

In the result, the captioned appeals by the revenue are partly allowed and cross-objections are allowed in part for statistical purposes

ITA 3863/MUM/2025[2016-17]Status: DisposedITAT Mumbai06 Aug 2025AY 2016-17

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri J D Mistri, A/RFor Respondent: Shri Vivek Perampurna, CIT D/R
Section 131Section 133ASection 143(2)Section 80I

same, Ground No. 9 is dismissed. 21. There is a grievance of not allowing the TDS credit and not allowing the set off of MAT credit available. These issues are restored to the files of the AO with a direction to allow the TDS credit after verification ... provisions of law and allow the MAT credit available after verification and as per the relevant provisions of the law. 22. Similar grievance are also there in C.O. Nos. 183 & 184/Mum/2025 for AYs 2022-23 & 2023-24, vide Ground Nos. 5 & 6. We I.T.A. No. 3863/Mum/2025 I.T.A. No. 3884/Mum/2025 I.T.A

Gujarat State Petronet Limited, Gandhinagar vs. DCIT, Gandhinagar Circle, Gandhinagar

In the result, appeal of the assessee stands allowed

ITA 991/AHD/2025[2012-13]Status: DisposedITAT Ahmedabad29 Jul 2025AY 2012-13

Bench: Shri Sanjay Garg & Smt. Annapurna Guptaआयकर अपील सं /Ita No.991/Ahd/2025 िनधा"रण वष" /Assessment Year : 2012-13

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri B.P. Srivastava, Sr.DR
Section 115JSection 143(3)Section 154

justified in upholding the rectification order of the Assessing Officer (AO) passed u/s.154 of the Act, whereby, he has reduced the set off of MAT credit from Rs.33,21,42,214/- to Rs.30,86,81,262/- which was earlier allowed to the assessee in the scrutiny assessment order dated 31/03/2015 ... surcharge and education cess. He observed that since surcharge and education cess paid on tax were not included in the MAT credit, hence, the same was not allowable u/s.115JAA of the Act. He, invoking the provisions of section 154 of the Act, amended the order and excluded the claim

M/S. Laxmi Organic Industries Limited, Mumbai vs. Deputy Commissioner of Income Tax Circle 3(2)(1), Mumbai

ITA 4782/MUM/2024[2020-21]Status: DisposedITAT Mumbai25 Jul 2025AY 2020-21

Bench: Shri Pawan Singh & Shri Girish Agrawal

For Appellant: Shri Percy Pardiwala, Sr. Advocate andFor Respondent: Ms. Neena Jeph, CIT DR
Section 144C(5)Section 80I

learned Assessing Office erred in computing tax liability in the computation sheet attached to the assessment order without allowing the MAT credit u/s 115JAA of the taxes paid in the earlier years amounting to Rs.12,25,49,360/- 15. On the facts and in the circumstances of the case

Aspee Sons, Solan vs. Income Tax Officer, Parwanoo

In the result, Assessee’s appeal is allowed for Statistical Purposes

ITA 1168/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh21 Jul 2025AY 2018-19

Bench: Shri Laliet Kumar & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 1168/Chd/2024 "नधा"रण वष" / Assessment Year : 2018-19 Aspee Sons, The Ito, बनाम Village Kuranwala, Parwanoo Barotiwala, Vs. S.O.Barotiwala (196), Solan 174103 "थायी लेखा सं./ Pan No: Aaqfa1827R अपीलाथ"/Appellant ""यथ"/Respondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Sh. Parikshit Aggarwal, C.A. राज"व क" ओर से/ Revenue By : Shri Vivek Vardhan, Addl. Cit, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 16.07.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 21.07.2025 आदेश/Order Per Krinwant Sahay, Am : Appeal In This Case Has Been Filed By The Assessee Against The Order Dated 19.09.2024 Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi For The Assessment Year 2018-19. 2. Grounds Of Appeal Are As U

For Appellant: Sh. Parikshit Aggarwal, C.AFor Respondent: Shri Vivek Vardhan, Addl. CIT, Sr. DR
Section 115JSection 143(3)Section 250bSection 80Section 80I

computing the tax liability on assessed income in the tax computation sheet, has erred in not granting the benefit of MAT Credit of Rs. 4,60,316/- u/s 115JD and that too when nothing adverse or contrary in this regard has been recorded in the assessment order and order passed