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2008 (7) TMI 526 - HC - Income TaxAdvance Tax-Interest- In the light of the judgment of Karnataka High Court in the case of Kwality Biscuits Ltd. v CIT, Tribunal held that interest under section 234B of the Income Tax Act, 1961, was not chargeable when the income was computed under section 115J of the Act. held that-Tribunal had followed the decision of Karnataka High Court which had been approved by the Supreme Court, thus it had rightly held that interest under section 234B was not chargeable when income was computed under section 115J of the Act.
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