MAT is a tax; it isn’t a compulsory interest free deposit and its provisions aren’t unconstitutional

IT : Provisions of sections 115JA and 115JAA are neither arbitrary nor unreasonable nor ultra vires to any provisions of the Constitution. The contention of the petitioner that the tax paid on the basis of computation under section 115JA of the Act amounts to a compulsory deposit on which no interest is paid to the assessee is also misconceived. The tax as payable on income as computed under section 115JA of the Act is a tax levied under the Act, albeit computed on the basis of the book profits