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TMI Blog2018 (12) TMI 1254X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Respondent : None ORDER PER DUVVURU RL REDDY, JUDICIAL MEMBER: This appeal filed by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals) 13, Chennai dated 05.01.2018 relevant to the assessment year 2011-12. The only effective ground raised in the appeal of the Revenue is that the ld. CIT(A) has erred in directing the Assessing Officer to consider the payment of surcharge and education cess for the purpose of MAT credit. 2. In the assessment year under consideration, the assessee has claimed MAT credit of ₹.1,86,40,748/- inclusive of surcharge and cess. However, in the assessment order, the Assessing Officer has granted MAT credit of only ₹.1,30,06,509/- and the diff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set off against the tax liability for the assessment year under consideration. Similar issue was subject matter in appeal for the assessment year 2012-13 and vide its order in I.T.A. No. 1723/Mds/2017 dated 30.10.2017, the Tribunal has observed and held as under: 6. The next ground raised in the appeal of the Revenue is with regard excess claim of MAT credit under section 115JAA of the Act. On perusal of the statement of total income for the year ended 31.03.2012, the Assessing Officer noticed that the assessee has claimed an amount equivalent to ₹.3,20,05,495/- as MAT credit. During the course of scrutiny proceedings, the assessee has submitted the details called for. After verifying the details, the Assessing Officer, while co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of M/s. Saint Gobain Gyproc India Ltd. (supra), the Co-ordinate Benches of the Tribunal has observed and held as under: We heard the rival contentions of both the parties perused the material on record and also judicial decision cited. The assessee company has claimed Mat credit set off against income tax on normal provisions which is allowable and such MAT credit can be carried forward also. Under the provisions of Sec. 115JB tax components also includes surcharge and education cess. The ld. Authorised Representative reiterated his submissions made before the appellate proceedings were relief was granted. Before us, the ld. Departmental Representative relied on the findings of the Assessing Officer and argued to set aside the appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the MAT credit against the tax liability payable before surcharge and education cess or alternatively the amount of MAT credit should also be inclusive of surcharge and education cess and then allow the credit against the tax payable inclusive of surcharge and education cess . We, respectfully following the above decision, upheld the order of the Commissioner of Income Tax (Appeals) and dismiss the Revenue appeal . 6.4 The above decisions of the Chennai Benches as well as Mumbai Benches of the Tribunal have not been reversed by any High Court. Further, the above decisions were also followed to decide similar issue in the case of Value Source Technologies Pvt. Ltd. v. DCIT in I.T.A. No. 449/Mds/2016 dated 19.05.2016. By following ..... X X X X Extracts X X X X X X X X Extracts X X X X
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