Bombay High Court Dismisses Revenue's Appeal in MAT Credit Case — Credit for Brought Forward MAT Must Be Given Before Computing Interest Under Section 234B of Income Tax Act, 1961. The Court held that MAT credit reduces the tax payable on assessment and must be deducted from gross demand before charging interest under Section 234B.
6 Apr 2010The appeal by the Revenue arose from an order of the Income Tax Appellate Tribunal dated 20 June 2007, concerning assessment year 2000-2001. The asses...




