2008 (7) TMI 526

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... K. A. PUJ J.- The Revenue has filed this tax appeal under section 260A of the Income-tax Act, 1961, for the assessment year 1989-90. The appeal was admitted by this court on June 18, 2001, and the following substantial question of law was formulated by the court:  "Whether the Appellate Tribunal is right in law and on facts in holding that interest under section 234B is not chargeable when .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... It is reported therein that from the decision of the Karnataka High Court to the effect, inter alia, that interest is not leviable under sections 234B and 234C of the Income-tax Act, 1961, in the case of an assessment of a company on the basis of book profits under section 115J, since the entire exercise of computing income under section 115J can only be done at the end of the financial year, and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... appearance of one of us (Coram: K. A. Puj J.) was filed was back on July 21, 2001. Thereafter, appearance of Mr. R. K. Patel is filed. This Bench was not inclined to take up the matter. However, the learned advocate appearing for the assessee as well as learned standing counsel appearing for the Revenue submits that since this Bench is not deciding any fresh issue and only the judgment of the hon .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X