Commissioner of Income-tax, Kol-III v. M/s. Worty Plywood Limited
[Citation -2015-LL-0223-21]

Citation 2015-LL-0223-21
Appellant Name Commissioner of Income-tax, Kol-III
Respondent Name M/s. Worty Plywood Limited
Relevant Act Income-tax
Date of Order 23/02/2015
Judgment View Judgment
Keyword Tags minimum alternate tax • assessed tax

ORDER SHEET ITA 38 OF 2010 IN HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE COMMISSIONER OF INCOME TAX, KOL-III Versus M/S. WORTHY PLYWOOD LIMITED BEFORE: Hon'ble JUSTICE GIRISH CHANDRA GUPTA Hon'ble JUSTICE ARINDAM SINHA Date : 23rd February, 2015. For Appellant/Petitioner : Mr.R.K.Sinha,Advocate For Respondent/assessee : Mr.J.P.Khaitan, Sr.Advocate Court : appeal was admitted on 10th February, 2010 and following question of law was formulated : Whether on facts and in circumstances of case, Tribunal was justified in holding that interest under section 234A,234B and 234C of Income Tax Act, 1961 should be charged after giving credit to MAT payment under section 115 JA of Act in spite of amendment which came into effect from April, 2007 ? Mr. Khaitan, learned Senior advocate appearing for assessee submitted that point is now covered by judgement of Supreme court in case of 2 CIT v. Tulsyan NEC Ltd., reported in (2011) 330 ITR 226 (SC) wherein following view was taken : Minimum alternate tax (MAT) credit admissible in terms of section 115JAA of Income-tax Act, 1961, has to be set off against assessed tax payable, before calculating interest under sections 234A, 234B and 234C. In that view of matter, Mr.Sinha did not dispute position. Therefore, question is answered in affirmative and against revenue. appeal is, thus, disposed of. (GIRISH CHANDRA GUPTA, J.) (ARINDAM SINHA, J.) ssaha AR(CR) Commissioner of Income-tax, Kol-III v. M/s. Worty Plywood Limited
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