Surcharge and cess is to be calculated after deducting MAT credit u/s 115JAA from tax on assessed income

ACIT Vs. Divi’s Laboratories Ltd. (ITAT Hyderabad) This appeal is filed by the Revenue against the order of CIT(A) – 5, Hyderabad dated 30/01/2016 relates to the AY 2012-13 wherein the revenue has raised the following grounds of appeal: “1. The ld. CIT(A) erred in holding that the surcharge and education cess is to be calculated after deducting the MAT credit u/s 115JAA from the tax on assessed income. 2. Ld. CIT(A) erred in ignoring the law that for the purpose of tax credit u/s 115JAA of the IT Act, tax does not include surcharge and education cess.” 2. Assessee is a company, en...