Case Law Details
Case Name : Richa Global Exports Pvt. Ltd. Vs Assistant Commissioner of Income-tax (ITAT Delhi)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Delhi
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IN THE ITAT DELHI BENCH ‘F’
Richa Global Exports Pvt. Ltd.
v/s.
Assistant Commissioner of Income-tax
IT Appeal No. 2303 (Delhi) of 2012
[Assessment year 2010-11]
August 31, 2012
ORDER
T.S. Kapoor, Ac
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Surcharge and Education Cess is applicable in case of payment under MAT as per the provisions of Finance Act of a particular year. For example, reference may be made to such provision of the Finance Act, 2010 vide sub-section 1 to 9 read with sub-section 11 and 12 of Sec.2 regarding “Rates of Income Tax”. In case of liability under MAT also, Surcharge and Cess are payable. When Surcharge and Cess are payable in case of MAT as per Finance ACT while Sec.115JB does not say so, why tax credit under MAT cannot include Surcharge and Education Cess.
K.K.SARAOGI
Thanks please. The above decisions mean that adjustment of MAT credit would not be allowed inclusive of Surcharge and Education cess. If, however, any company pays tax under MAT after including Surcharge and education cess, can it adjust MAT credit in future years(s) after including Surcharge and education Cess – K.K. SARAOGI