Will a amalgamated company be entitled to take MAT credit where tax has been paid by amalgamating Company,and if so,reasons?
3 Replies
CA SUDIPTA SINHA
(Commerce Coaching- Accounts Cost FM)
(735 Points)
Replied 30 November 2009
currently u/s 115JAA mat credit is available for 7 assessment years but the section does not say anything whether the amalgamted company shall be entitled to take mat credit or not. hence there remains ambiguity regarding this issue.
mehul
(CA)
(29 Points)
Replied 11 January 2010
MAT Credit can be carried forward for balance period by amalgameted co.
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