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2009 (8) TMI 806 - AT - Income Tax
MAT - Levy of interest of ₹ 16,71,383 under s. 234B and of ₹ 2,24,083 under s. 234C of the Act, wherein the income has been taxed on the basis of book profit under s. 115JA - It all boils down to this, namely, whether the order of the Special Bench in the case of Asstt. CIT vs. Ashima Syntex Ltd. [2008 (10) TMI 298 - ITAT AHMEDABAD-B] - upholding the levy of interest in light of sub-s. (4) of s. 115JA should be followed or the judgment of the Bombay High Court in Snowcem India Ltd. [2009 (1) TMI 6 - BOMBAY HIGH COURT] -, also rendered in the context of s. 115JA, has to be applied - the levy of interest upheld.