Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 288 - HC - Income TaxMinimum Alternate Tax (MAT) u/s 115J - Levy of interest u/s 234B / 234C - Whether on the facts and circumstances of the case, the Hon'ble ITAT was right in law in upholding the decision of the CIT(A) that interest u/s 234B & 234C cannot be charged in cases where income of the assessee is computed as per provisions of section 115JA of the Income Tax Act, 1961? - Held that:- The pre-requisite condition for applicability of Section 234B is that assessee is liable to pay tax under Section 208 and the expression “assessed tax” is defined to mean the tax 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 the regular assessment. - Assessee is liable to pay Interest u/s 234B / 234C
|