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Interest on MAT

This query is : Resolved 
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(Querist)
18 September 2010 Whether interest is applicable on MAT?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 September 2010 Interest under section 234B and 234C are applicable.
Citation :- Madras Pharmaceuticals (P) Ltd Vs. Dy.CIT (2008) 24 SOT 180(Mum-Tri)
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CA Parag

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CA Parag (Expert)
19 September 2010 Yes interest under sec 234 C and 234 B are attracred and you can not use MAT credit against interest payable on MAT.
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CA. C.N.PATIL

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CA. C.N.PATIL (Expert)
19 September 2010 YES IT IS APPLICABLE
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Praveen Sharma

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Praveen Sharma (Expert)
20 September 2010 Yes Interest on MAT is applicable.
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