115jb vs sec.80ic

Yes MAT shall be payable as the section specifically provide for exemption u/s 10AA. MAT provisions shall be read as it is.

If that is the case, my next confusion is that why the big companies, able to employe huge talented professionals, are not claiming exemption profit of their units situated in SEZ area u/s 10AA rather claiming deduction u/s 80IC. As the MAT credit they will be able to utilize after holiday period gets over. Now up to that period huge fund gets blocked in the form of MAT credit. Loss of interest on this non creative fund. Sometimes loss of some business opportunity.