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2016 (2) TMI 264 - AT - Income TaxInterest under S.234B and S.234C - non payment of advance tax - whether CIT(A) has erred in deleting the interest charged u/s. 234B ? - Held that:- We are concerned with the previous year commencing on 1.4.2009 and ending on 31.3.2010. As per the decision in the case of Ajantha Pharma Ltd. V/s. CIT (2010 (9) TMI 8 - SUPREME COURT) assessee was entitled to deduction under S.80HHC for the purpose of computation of book profit under S.115JB of the Act, and therefore, assessee need not have to pay advance tax. It is also not in dispute that the amendment was brought with retrospective effect by the Finance Act, 2010 nullifying the effect of the above Apex Court decision. Thus, prior to 31.3.2010, assessee could not have foreseen the retrospective amendment of law, and hence, assessee company cannot be expected to do the impossibility of paying advance tax as per the law not on the field as on 31.3.2010. Under identical circumstances, courts have held that interest under S.234B and S.234C need not be charged merely because there was variance between book profit computed based on retrospective amendment. The Learned Departmental Representative has not placed any decision of the higher forum wherein a contrary view has been taken on this issue. Having regard to the circumstances of the case, we are of the view that the order passed by the CIT(A) does not call for interference. - Decided against revenue
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