2023 (3) TMI 102

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..... INTURI RAMA RAO, A M: This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)- 11, Pune ['the CIT(A)'] dated 04.05.2022 for the assessment 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 assessm .....

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..... aying that the MAT credits have been allowed without considering the corresponding surcharge and education cess. However, the ld. CIT(A) rejected both the grounds of appeal placing reliance 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 .....

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..... so filed a written submission. 7. We had carefully gone through the order passed by the ld. CIT(A), which is a well speaking and reasoned order, we find that the order of the ld. CIT(A) is in consonance with the settled position of law and does not require any interference. Accordingly, the grounds of appeal filed by the assessee stand dismissed. 8. In the result, the appeal filed by the assesse .....

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