9911796707
TMI Blog2015 (1) TMI 1299X X X X Extracts X X X X X X X X Extracts X X X X ..... Minimum Alternate Tax (MAT) credit under the provisions of section 115JAA of the Income-tax Act, 1961 (the Act) of Rs. 1,83,39,173 against the total tax liability computed after including surcharge and education cess. 2. The learned Commissioner (Appeals) erred in not accepting the appellant's contention that the learned ACIT in arriving at the final tax liability ought to have granted MAT credit and ought to have levied the applicable surcharge and education cess on the balance tax after the deduction of the MAT credit. 3. The learned Commissioner of Income-tax (Appeals) erred in not accepting the appellant's alternative and without prejudice contention that if the learned ACIT provided the set off of MAT credit against the ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should also be enhanced by the surcharge and cess then the credit be given against the tax liability which is inclusive of surcharge and cess. 3. On the other hand, the Ld. DR has submitted that as per section 4 of the Income Tax Act, the tax includes any levy, surcharge or cess, therefore, for the purpose of MAT credit, the tax liability has to be considered inclusive of surcharge and cess. He has relied upon the orders of authorities below. 4. Having considered the rival submissions as well as relevant material on record, we note that the authorities below held that the MAT credit is allowable against the tax liability inclusive of surcharge and cess and not the tax payable before the surcharge and cess. The assessee has relied upon the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcharge 'is computed on the amount reflected in entry 5. 7 The Tribunal has noted that from the next assessment year, the assessment year 2012-13, the positiori was materially altered but, in the present case, since the dispute related to the assessment year 2011-12, the method of computation, as directed by the Commissioner {Appeals) was plainly in accordance with the methodology as provided in ITR-6. 'The Tribunal in confirming the order of the Commissioner (Appeals) has, hence, not committed any error. The appeal-will not give rise' to any substantial question of law and is, accordingly, dismissed." 5. Thus it is clear that the Hon'ble High Court has taken into account the order of entries in the form ITR-6 for the A.Y. 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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