TMI Blog2009 (3) TMI 525X X X X Extracts X X X X X X X X Extracts X X X X ..... d the appeal were dismissed. The dismissal of the appeal by the Supreme Court in the case of CIT v Kwality Buscits Ltd. Would amount to confirmation of the law as held by the Karnataka High Court. Held that- the Tribunal was correct in law, in directing the Assessing Officer to delete the amount charged as interest under section 234B and 234C on the minimum alternate tax levied under section 115J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the matter is covered in favour of the assessee by the decision of the hon'ble Supreme Court in the case of CIT v. Kwality Biscuits Ltd. [2006] 284 ITR 434, which confirms the order of the Karnataka High Court in the same case as reported in Kwality Biscuits Ltd. v. CIT [2000] 243 ITR 519 ? (b) Whether on the facts and in the circumstances of the case the hon'ble Tribunal was right in law, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions pertaining to interest under sections 234B and 234C would be applicable to the company covered by section 115J of the Income-tax Act. The learned Bench answered the issue in favour of the assessee as in that case there was shortfall in the payment of the advance tax paid and after regular computation as worked out in terms of section 115J. 4. The issue had come up for consideratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iance on the judgment of the Supreme Court in Kunhayammed v. State of Kerala [2000] 245 ITR 360 (Ker); [2000] 119 STC 505 we had held that the dismissal of the appeal by the Supreme Court in the case of Kwality Biscuits (supra) would amount to confirmation of the law as held by the Karnataka High Court and in view of that we had allowed the appeal preferred by the assessee. 5. The learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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