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2016 (3) TMI 907 - AT - Income TaxLevy of interest u/s. 234B and 234C - MAT - Advance payment of Tax - Held that:- We find that the levy of interest u/s. 234B and 234C in case of companies governed by MAT provisions was finally settled by the Hon'ble Apex Court in M/s Rolta India Ltd. case [2011 (1) TMI 5 - SUPREME COURT OF INDIA], that before that the assessees were under bona - fide belief that they had not to pay advance tax as per the provisions of sec. 207/208 of the Act, that after 07. 1. 2011 position became very clear that the assessees to be taxed u/s. 115 JB would also have to pay advance tax. Considering the peculiar facts and circumstances of the case, we are of the opinion that interest should be levied for the default of March installment only and not for the earlier three installments. The AO is directed to recalculate the interest accordingly. - Decided partly in favour of assessee
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