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TMI Blog2012 (4) TMI 486X X X X Extracts X X X X X X X X Extracts X X X X ..... ferred by the revenue challenging the order passed by the Tribunal which held though the income is computed under Section 115JA, the provision of Section 115J or 115JA are not materially different. Sub-section (4) of Section 115JA no doubt mentions that other provisions of the Act are also applicable. However, the same were applicable when income was computed under Section 115J itself. Though the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 234B interest is levied automatically as there is no discretion. 3. Learned counsel appearing for both the parties submit the said question now has been decided by the Apex Court in the case of Jt. CIT v. Rolta India Limited [2011] 330 ITR 470/196 Taxman 594 (SC). The Apex Court had held as under :- "7. In our view, section 115J/115JA are special provisions, Section 207 envisages th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were special provisions which provided that where in the case of an assessee, the total income as computed under the Act in respect of any previous year relevant to the assessment year is less titan 30 per cent, of the book profit the total income of the assessee shall be deemed to be an amount equal to 30 per cent, of such book profit. The object is to tax zero-tax companies. 8. Section 115J was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions 115JA and 115JB. So for as interest leviable under Section 234B is concerned, the section is clear that it applies to all companies. The pre requisite condition for applicability of Section 234B is that the assessee is liable to pay tax under Section 208 and the expression "assessed tax" is defined to mean the tax on the total income determined under Section 143(1) or under Section 143(3) as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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