MAT Credit on Acquition

dear friend

Mat credit can be utilised by the same assessee who has paid mat in earlier year within the period specified, it has nowhere written that the credit will extend to the succesor for the remaining period to be utilised. Mat is a tax as per income tax for the period in which normal tax is less than mat. however credit is eligible for the diff. (MAT - Naormal tax) for the specified period to the same assessee (same PAN) . therefor credit will lapse in case the assessee is succeded by others or period specified get overed

therefror your company will not get credit of MAT