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2012 (5) TMI 278 - ITAT, DELHI
Minimum Alternate Tax (MAT) - Interest u/s 234C - deferred payment of advance tax - Section 115JB(5) - held that:- Under s. 115JB of the Act, sub-s. (5) clearly states that other provisions of the Act shall apply to every assessee being a company, save as otherwise provided in the said section. In this context, Circular No. 13 of 2001 has also been issued by the CBDT as per which companies covered by the provisions of s. 115JB are liable to pay advance tax and consequently, ss. 234B and 234C of the Act are applicable.
Decision in Kwality Biscuits Ltd.(2006 (4) TMI 121 (SC)) in which SC dismissed the appeal against the decision of HC in (1999 (11) TMI 48 (HC)) distinguished. - Decided against the assessee.