2016 (11) TMI 209

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..... essee by the judgment of this Court in Commissioner of Income Tax Vs. Chemplast Sanmar Ltd, reported in (2009 (4) TMI 61 - MADRAS HIGH COURT ) affirmed in the case reported in Commissioner of Income Tax Vs. Tulsyan Nec Ltd.(2010 (12) TMI 23 - Supreme Court of India ), wherein held MAT credit would lapse after five succeeding assessment years under section 115JAA(3); that no interest would be payab .....

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..... ders of Income Tax Appellate Tribunal passed in ITA No.529/Mds/2005 in respect of assessment year 2001-02, ITA No.3320/Mds/2004 in respect of assessment year 2003-04 and ITA No.2296/Mds/2005 in respect of assessment year 2001-02, dated 15.09.2006. 2. The substantial question of laws raised in the above appeals are as follows:- 1. Whether, on the facts and in the circumstances of the case, .....

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..... me Court in the case reported in Commissioner of Income Tax Vs. Tulsyan Nec Ltd., reported in (2011) 330 ITR 226 (SC), wherein, the Honourable Supreme Court has specifically noted as follows; The consequence of adopting the case of the Department would mean that the MAT credit would lapse after five succeeding assessment years under section 115JAA(3); that no interest would be payable on such .....

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