Home Highlights January 2019 Year 2019 This

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1. The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

2. Rectification of mistake u/s 154 - Difference of MAT credit not allowed to the assessee as related to surcharge and cess components of the MAT taxes paid in earlier...

3. Set off of MAT credit u/s.115JAA - assessee being a company had filed its return of income in ITR-6 (i.e. prescribed form) under schedule for MAT credit (Schedule MATC),...

4. Credit of taxes paid and set off of MAT credit as per the provisions of section 115JAA -AO directed to compute pro rata quantification of the demerged undertaking MAT,...

5. The issue pertains to the disallowance of excess Minimum Alternate Tax (MAT) credit u/s 115JAA and whether the amount of surcharge and education cess should be reduced...

6. Minimum alternate Tax (MAT) - Tax credit u/s 115JAA - surcharge and cess - Revenue (CPC) has admittedly applied surcharge and education cess on a tax credit u/s. 115JAA...

7. Determining the MAT credit u/s 115JAA - Non granting credit for surcharge and cess while computing the tax credit u/s 115JAA - department cannot be unjustly enriched...

8. The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

9. Minimum alternate tax (MAT) - profit from sale of agricultural land, which is not a “Capital Asset”, cannot be included for the purpose of computing book profit u/s 115JB - AT

10. Disallowance of credit of surcharge and education cess - MAT u/s 115JAA - if only income tax is paid under the provisions of section 115JB it is natural that tax credit...

11. Set-off of MAT credit u/s 115JAA - surcharge and cess - The observation of the Ld.CIT(A) that the issue is debatable one is not sustainable - majority of the decisions...

12. MAT credit u/s 115JAA - There is no restriction with regard to allowance of MAT credit of an amalgamating company at the hands of the amalgamated company. - AT

13. MAT computation u/s 115JB - Action of AO including the agriculture income for the purpose of MAT is not correct - Firstly, there was no mistake in the original orders...

14. This case deals with the issue of whether GST/service tax amount should be included while computing the gross receipts u/s 44BB for a non-resident company engaged in...

15. MAT Credit admissible in terms of Section 115JAA has to be set off against the tax payable (assessed tax) before calculating interest under Sections 234A, 234B and 234C