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MAT CREDIT

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18 May 2009 Pls advice on the following:-

Will an amalgamated company be allowed to take credit of the MAT paid by the amalgamating company.

Eg: B is amalgamted with A. B has an MAT credit available of Rs.10 Crores. Would A (amalgamted Company)be entitled to use the MAT credit of B to reduce its tax liability.

18 May 2009 yes it can

18 May 2009 Pls advice the relevent caselaw or the section which allows this.

Thanks and Regards




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