The addition was made u\/s.68 in the case of a Company. The assessee-company has b\/f. MAT Credit of which part adjustment is made during the subject year in the Return filed and balance c\/f. to subsequent year. Post addition u\/s.68 made by AO, the Company is entitled to MAT Credit based on assessed tax under normal rate of tax being higher than as per ROI when Book Profit u\/s.115JB remained the same. While raising demand, credit for MAT was given as claimed in ROI. The assessee-company filed appeal before 31-1-2020 which is pending on that day disputing addition u\/s.68. MAT credit not allowed properly is not disputed in GOA but rectification application application is filed u\/s. 154.
\nWhether excess MAT credit that should have been granted be considered while arriving at disputed tax liability under VSV Scheme Act?<\/p>\n","protected":false},"excerpt":{"rendered":"
The addition was made u\/s.68 in the case of a Company. The assessee-company has b\/f. MAT Credit of which part adjustment is made during the subject year in the Return filed and balance c\/f. to subsequent year. Post addition u\/s.68 made by AO, the Company is entitled to MAT Credit based on assessed tax under normal rate of tax being higher than as per ROI when Book Profit u\/s.115JB remained the same. While raising demand, credit for MAT was given as claimed in ROI. The assessee-company filed appeal before 31-1-2020 which is pending on that day disputing addition u\/s.68. MAT credit not allowed properly is not disputed in GOA but rectification application application is filed u\/s. 154. Whether excess MAT credit that should have been granted be considered while arriving at disputed tax liability under VSV Scheme Act?<\/p>\n