In case of conversion of Pvt Ltd into LLP, as per the provision of section 115JA(7), the succeeding LLP will not be allowed the credit of MAT paid by the preceding company. But how to write off MAT credit entitlement in books of accounts when Pvt Ltd is converted into LLP? And whether it will be written off in Pvt Ltd closing books or in LLP books? What would be the accounting treatment?
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