ITAT Allowed set off of MAT Credit inclusive of Surcharge, Education Cess

Tata Motors Ltd. Vs DCIT (ITAT Mumbai)

M/s. Tata Motors Ltd. (Appellant) filed an appeal against the order of Commissioner of Income Tax (Appeals), computing set-off of Minimum Alternate Tax (MAT) credit under Section 115JAA of the Income Tax Act, 1961 (the IT Act) excluding surcharge and cess resulting in short grant of MAT credit of Rs. 21,70,98,794/-.

The Hon’ble ITAT, Mumbai relied on Srei infrastructure Finance Ltd., v. DCIT [395 ITR 291 (Calcutta)] and M/s. Scope International Pvt. Ltd. [TCA No. 588 of 2019 dated August 16, 2019] and directed the Respondent to allow set off of MAT credit inclusive of surcharge and education cess and recompute the tax payable by the Appellant for the year under consideration.

FULL TEXT OF THE ORDER OF ITAT MUMBAI

1. This appeal is filed by the assessee against order of Learned Commissioner of Income Tax (Appeals)–1, Mumbai [hereinafter in short “Ld.CIT(A)”] dated 05.02.2019 for the A.Y: 2014-15.

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