Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 309 - HC - Income TaxLevy of interest under Sections 234B and 234C - income of the appellant assessed and liable to tax as per the provisions of Section 115-J of the Act - Held that:- In the instant case we are seized with the matter of the assessment for the year 1989-90 when neither of the two Sections 115JA and 115JB of the Act were in-existence what to say about Sub-Section 4 and Section 5 to the aforesaid provisions. Therefore, we are of the view that the decision of the Supreme Court in Rolta India Ltd. (2011 (1) TMI 5 - SUPREME COURT OF INDIA) would not be applicable to the present case and that the question regarding the levy of interest under Section 234B and 234C of the Act on the tax computed under Section 115J would stand covered by the decision of Kwality Biscuits Ltd.approved by the Supreme Court. [2006 (4) TMI 121 - SUPREME Court] In view of above, the question hereinabove is answered in favour of assessee and against the department and it is held income computed under Section 115J for the period prior to enforcement of Section 115JA and Section 115JB would not attract interest under Section 234B and 234C of the Act.
|