TMI Blog2008 (7) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - 145 of 2001 - - - Dated:- 18-7-2008 - K. A. PUJ AND R. H. SHUKLA JJ. Mauna M. Bhatt for the appellant R.K. Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere are several other issues involved in the said tax appeal, we are taking up this tax appeal for final hearing separately. 4. While allowing this issue in favour of the assessee, the Tribunal has followed the decision of the Karnataka High Court in the case of Kwa!ity Biscuits Ltd. v. CIT [2000] 243 ITR 519. An appeal filed against this judgment by the Revenue before the apex court has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowed the judgment of the Karnataka High Court and the said decision has been approved by the hon'ble Supreme Court, we decide this question in favour of the assessee and against the Revenue. We are of the view that the Tribunal has correctly decided the issue and held that interest under section 234B is not chargeable when income is computed under section 115J of the Act. 6. This appeal is a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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