2023 (3) TMI 102

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..... aims can be allowed, which are within the scope of section 143(1), the claim not made in the return of income, cannot be allowed - HELD THAT:- When the matter was called on, none appeared on behalf of the appellant-assessee despite due service of notice of hearing. However, there was a petition seeking adjournment of hearing on the ground that the Counsel was busy. The assessee also filed a writte .....

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..... year 2011-12. 2. Briefly, the facts of the case are that the appellant is a company engaged in the business of manufacturing of M. S. Billets from melting M.S. Scrap. The Return of Income for the assessment year 2011-12 was filed on 16.09.2011 declaring total income of Rs.6,40,35,123/-. The return of income was processed u/s 143(1) of the Income Tax Act, 1961 ( the Act ) on 08.11.2012 raising a .....

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..... on the decision of the Hon ble Calcutta High Court in the case of Srei Infrastructure Finance Ltd. vs. DCIT, 72 taxmann.com 239 (Cal.) wherein it has held that MAT credit under the provisions of section 115JAA brought forward from earlier years is to be set off against the total tax liability on the total income including surcharge and education cess. Similarly, the request for amount of MAT credi .....

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