MAT Credit eligible on Surcharge, Education Cess & Additional Surcharges

Adurjee & Bros Pvt. Ltd. Vs DCIT (ITAT Pune) ITAT noted that the assessee claimed MAT credit utilized to an extent of 33,41,567/- u/s. 115JAA of the Act, the CPC, Bangalore allowed MAT credit to an extent of Rs.30,73,272/- and disallowed Rs.2,68,295/-. The contention of ld. AR, Shri R.S. Abhyankar is that tax includes surcharge and cess. The assessee is entitled to entire credit as claimed to an extent of Rs.33,4 1,567/- and placed reliance on the decision of Hon’ble Supreme Court in the case of K. Srinivasan reported in 83 ITR 346 (SC). The CIT(A) held that the education cess is not inc...