COMMISSIONER OF INCOME TAX MADURAI Vs. GANGOTRI TEXTILES

JUDGEMENT

(1.) THE appeal has been preferred by the revenue against the order of the Income Tax Appellate Tribunal, Madras 'D' Bench, Chennai, dated 22.09.2006 passed in ITA No,220/Mds/2006.

(2.) THE material facts culled out from the statement of facts in the memorandum of grounds of appeal are as follows:- THE assessing officer passed an order under Section 154 of the Income Tax Act wherein he has given credit for brought forward MAT credit after charging of interest under Section 234B and 234C. While computing the tax first, computation of tax was to take place and thereafter credit for MAT available under Section 115 JAA, TDS and advance tax were to be reckoned with and thereafter only interest under Section 234B and 234C had to be taken note of. Aggrieved by the same appeal was filed before the Commissioner of Income-tax (Appeals), who following the judgment in the case of Chemplast Sanmar Limited decided the issue in favour of the assessee. THE revenue filed appeal before the Tribunal, which following its judgment in the case of Chemplast Sanmar Limited dismissed the appeal of the revenue. Aggrieved by the same, the revenue has filed this appeal by formulating the following questions of law:

(3.) IN respect of the other questions of law, the Division Bench has observed as follows:-