MAT Credit Dispute: ITAT Mumbai Confirms Correct Set-Off for Assessee After Appeal

JCIT(OSD) Vs Garware Hi-Tech Films Limited (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) in Mumbai has dismissed an appeal filed by the revenue department against Garware Hi-Tech Films Limited, upholding a lower appellate authority’s decision that directed the re-computation and adjustment of Minimum Alternate Tax (MAT) credit for the company. The ruling, delivered on July 21, 2025, in case ITA No.1133/Mum/2025, found the revenue’s challenge to be without merit as it focused on a consequential adjustment rather than the substantive deletions that led to it. The case origin...