2009 (4) TMI 88

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the tax credit carried forward u/s 115JAA even though there is no legal sanction for such adjustment u/s 208 to 211, u/s 234B or 234C or under any other provisions of the Act - question of law is answered against the revenue to the effect that the interest under the said two provisions have to be calculated after giving effect to the MAT credit - 343 of 2009 - - - Dated:- 30-4-2009 - JUSTICE K. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tion 234B and 234C. In the rectification order under Section 154, interest under Sections 234B and 234C was levied and the MAT credit which is available in favour of the assessee was adjusted after the interest has been calculated. On appeal, the Commissioner of Tax (Appeals), after hearing the parties, directed the assessment officer to compute the interest taking into consideration the MAT cred .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 208 to 211, under Sections 234B or 234C or under any other provisions of the Act ? 3. We heard the arguments of the learned counsel for the appellant and perused the materials available on record. 4. The very same issue has been considered by the Division Bench of this Court in which one of us (K. Raviraja Pandian, J) was a party in T.C.A. Nos.887 of 2004 etc. batch on 09.04.2009 and hel .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X