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MAT credit to be first adjusted and then TDS and prepaid taxes should be set off against the total tax liability and the assessee is not entitled to interest under s 244A against the MAT credit
Case Law Details
- Case Name
- CIT Vs M/s Sami Labs Limited (Karnataka High Court)
- Appeal Number
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- Courts
- All High Courts, Karnataka High Court
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CIT Vs M/s Sami Labs Limited – Karnatka High Court (Dated: February 14, 2011)- Income tax – Section 115JAA, 263, 244A – Whether MAT credit is to be first adjusted and then TDS and pre paid taxed should be set off against the total tax liability – Whether assessee is entitled to interest u/s 244A against the MAT credit. – Revenue’s appeal dismissed.
CIT Vs M/s Sami Labs Limited (Karnataka High Court)
ITA No. 231 of 2009
Decided on: 14 February 2011
This ITA filed under section 260-A of I.T.Act, 1961, praying to formulate the substantial questions of law stated therein, allow...
assessment order of sec 143 is void ab initio as it has been passed after 21 months from the relevant A/Y i.e. it is to be passed till 31-12-2003