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2009 (3) TMI 525 - HC - Income TaxAdvance Tax – Interest - The judgment of Karnataka High Court in Kwality Biscuits Ltd vs. CIT 2008 -TMI - 15292 - KARNATAKA High Court, was taken in appeal before the Supreme Court by way of special leave petition. The appeal were heard meaning thereby the leave was granted and the appeal were dismissed. The dismissal of the appeal by the Supreme Court in the case of CIT v Kwality Buscits Ltd. Would amount to confirmation of the law as held by the Karnataka High Court. Held that- the Tribunal was correct in law, in directing the Assessing Officer to delete the amount charged as interest under section 234B and 234C on the minimum alternate tax levied under section 115J of the book profit.
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