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2017 (9) TMI 827 - GUJARAT HIGH COURTInterest u/s 234B and 234C chargeability if the total income is assessed to tax under section 115J - Held that:- The controversy involved in the present case is no longer res integra, inasmuch as, this court in the case of Deputy C.I.T. (Assistant) v. Farmson Pharmaceuticals Guj. Ltd., [2011 (4) TMI 1037 - Gujarat High Court] has followed the decision of the Karnataka High Court in Kwality Biscuits Ltd. (1999 (11) TMI 48 - KARNATAKA High Court) as affirmed by the Supreme Court in Commissioner of Income Tax v. Kwality Biscuits Ltd. (2006 (4) TMI 121 - SUPREME Court) and has held that interest could not be charged under sections 234B and 234C of the Act when the total income was determined under section 115J of the Act. - Decided against the Revenue and in favour of the assessee.
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