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2014 (2) TMI 1154 - AT - Income TaxLevy of interest under sections 234B and 234C - disallowance of the claim of deduction under section 80-IB(10) as such the book profit - Held that:- It is pertinent to mention that the decision of the hon'ble apex court in the case of Rolta India Ltd. [2011 (1) TMI 5 - SUPREME COURT OF INDIA] has been passed on January 7, 2011. However, during the relevant assessment year under consideration, the law on this point has been governed by the decision of the hon'ble apex court in the case of CIT v. Kwality Biscuits Ltd. [2006 (4) TMI 121 - SUPREME Court] according to which no interest has chargeable under sections 234B and 234C for non-payment of minimum alternate tax in advance. Since this difference in the legal position as applicable to the case of the assessee has not been appreciated by the authorities below, we are of the considered view that the authorities below are not justified in confirming/ levying the interest under sections 234B and 234C of the Act and hence the same are deleted - Decided in favour of assessee.
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