Explanation 2 of section 115JB only define the meaning of tax and cannot extend the benefit of surcharge and cess paid last year

Last updated: 07 September 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
In allowing credit of MAT of the previous year u/s 115JAA at `.56,05,585/-. (Pl. see Sl. No.22 of Intimation) only as against the sum of `.63,51,128/- paid as per Schedule Part B of TTI of ITR 6 of previous year resulting in not allowing the credit of MAT u/s 115 JAA at `.5,60,559/- and `.1,84,984/- being the amount of surcharge and education cess (Part B of TTI of ITR 6 of previous year) which were paid in the previous year and credit of the same has to be allowed along with the sum of `.56,05,585/- in this year for which records are available with the department.

Citation :
M/s Richa Global Exports Pvt. Ltd., A-41, Mayapuri Indl Area, New Delhi. (Appellant) Vs. ACIT, (CPC),Vabgalore. (Respondent)

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CS Bijoy
Published in Income Tax
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