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2015 (7) TMI 873 - HC - Income TaxInterpretation of the provisions of Section 115JA - whether the interest under Sections 234B and 234C is to be charged under Section 143(1)(a) as a prima facie adjustment whereby no such charge made under Section 143(3)? - Held that:- The matter is no longer res integra. This Court in Commissioner of Income Tax v. Nahar Spinning Mills Limited, (2011 (7) TMI 961 - Punjab and Haryana High Court) following the judgment of CIT(Joint) v. Rolta India Limited, (2011 (1) TMI 5 - SUPREME COURT OF INDIA ) came to the conclusion that interest under Sections 234B and 234C of the Act would be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB of the Act. Thus it is held that the appellant was liable to pay interest under Sections 234B and 234C of the Act in respect of tax determined on the basis of Section 115JA of the Act. Decided against the assessee and in favour of the revenue
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