2007 (7) TMI 382

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tax Act, 1961 (for short "the Act"), was admitted on February 5, 2003. By order dated February 5, 2003, the court formulated the following substantial question of law which arises for decision in this case: "Whether the Income-tax Appellate Tribunal was justified in holding that no interest under sections 234B and 234C of the Act is leviable once income-tax is determined under section 115J of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... as reported in CIT v. Kwality Biscuits Ltd. [2006] 284 ITR 434 the Supreme Court dismissed the appeals. 3. In view of the aforesaid decisions of the Karnataka High Court and the Supreme Court, we hold that the Income-tax Appellate Tribunal was justified in holding that no interest under sections 234B and 234C of the Act is leviable once the income-tax is determined under section 115J of the Act. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X