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)] an

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