TMI Blog2014 (10) TMI 784X X X X Extracts X X X X X X X X Extracts X X X X ..... n Pharmaceuticals Guj. Ltd. [2011 (4) TMI 1037 - Gujarat High Court] the Tribunal was right in upholding the order of the CIT(A) directing not to charge interest u/s 234B and 234 of the Act since the total income was determined u/s 115J of the Act – Decided partly in favour of revenue. - Tax Appeal No. 47 of 2002 - - - Dated:- 9-10-2014 - KS Jhaveri And K. J. Thaker,JJ. For the Petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 234C of the Act on the ground that no interest can be charged under the said section when the income is calculated under Section 115JA? 3. Learned Counsel for the appellant Mr. Sudhir M. Mehta contended that the Issue No.2 is covered by the decision of the Hon'ble Supreme Court in the case of Joint Commissioner of Income-Tax v. Rolta India Ltd. reported in 330 Income Tax Reports 470. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the total income determined under section 143(1) or under section 143(3) as reduced by the amount of tax deducted or collected at source. Thus, there is no exclusion of section 115J/115JA in the levy of interest under section 234B. The expression assessed tax is defined to mean the tax assessed on regular assessment which means the tax determined on the application of section 115J/115JA in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) affirmed by the Supreme Court in the case of CIT v. Kwality Biscuits Ltd. [2006] 284 ITR 434 (SC), the question is answered in the affirmative, that is, the Incometax Appellate Tribunal was right in law in upholding the order of the Commissioner of Income-tax (Appeals) directing not to charge interest under sections 234B and 234 of the Act since the total income was determined under section 115J ..... X X X X Extracts X X X X X X X X Extracts X X X X
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