MAT CREDIT
This query is : Resolved
18 May 2009
Pls advice on the following:-
Will an amalgamated company be allowed to take credit of the MAT paid by the amalgamating company.
Eg: B is amalgamted with A. B has an MAT credit available of Rs.10 Crores. Would A (amalgamted Company)be entitled to use the MAT credit of B to reduce its tax liability.
Will an amalgamated company be allowed to take credit of the MAT paid by the amalgamating company.
Eg: B is amalgamted with A. B has an MAT credit available of Rs.10 Crores. Would A (amalgamted Company)be entitled to use the MAT credit of B to reduce its tax liability.
18 May 2009
yes it can
18 May 2009
Pls advice the relevent caselaw or the section which allows this.
Thanks and Regards
Thanks and Regards
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