Allowing the appeal of the asessee the Tribunal held that ; in view of Explanation 1(v) of sub-section (1) of S. 234B, MAT credit has to be allowed from ‘assessed tax’ and, thereafter, interest to be ( AY.2007 -08)
Ellenbarrie Industrial Gases Ltd. v. ITO (2018) 169 ITD 194 (Kol) (Trib.)
S. 234B : Interest – Advance tax -Book profit- In view of Explanation 1(v) of sub-section (1) of S. 234B, MAT credit has to be allowed from ‘assessed tax’ and, thereafter, interest to be computed [