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Dy. Commissioner of Income-Tax Versus Sabarmati Paper Udyog Ltd.

2017 (10) TMI 389 - GUJARAT HIGH COURT

Interest u/s 234B and 234C not chargeable if the total income is assessed to tax under section 115J - Held that:- Interest cannot be charged under section 234B and 234C of the Act where the total income is determined under sec 115J of the Act. See Kwality Biscuits Ltd case [2006 (4) TMI 121 - SUPREME Court] - Decided against the Revenue and in favour of the assessee. - Tax Appeal No. 31 of 2003 - Dated:- 4-10-2017 - MR. AKIL KURESHI AND MR. BIREN VAISHNAV, JJ. For The Appellant : Mrs Mauna M Bha .....

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lly erred in law in holding that interest under sections 234B and 234C is not chargeable if the total income is assessed to tax under section 115J of the Income Tax Act? 2. At one stage, the appeal was disposed of by judgment of the Division Bench dated 24.6.2011. Relying upon the judgment of the Supreme Court in case of Joint Commissioner of Income tax v. Rolta India Ltd reported in (2011) 330 ITR 470(SC), the Division Bench answered the question in favour of the Revenue. The assessee thereupon .....

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r decision in case of Rolta India Ltd (supra). The Division Bench allowed the assessee's application making following observations : 8. On the other hand, Mr. Nitin Mehta, learned Senior Standing Counsel for the respondent has very fairly submitted that the controversy involved in the present case is no longer res integra, inasmuch as, this court in the case of Deputy C.I.T. (Assistant) v. Farmson Pharmaceuticals Guj. Ltd., rendered on 07.04.2011 in Tax Appeal No.390 of 1999, has followed th .....

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hereinabove, it is evident that the earlier exparte judgment and order dated 24.06.2011 had been made by this court on an erroneous impression that the controversy involved in this case stands concluded by the decision of the Supreme Court in the case of Rolta India Limited (supra). A perusal of the decision of the Supreme Court in the case of Rolta India Limited (supra) makes it evident that the same was rendered in the context of the provisions of sections 115JA and 115JB of the Act, whereas .....

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n (4) of section 115JA and subsection (5) of section 115JB of the Act specifically provide that save as otherwise provided in the section, all other provisions of the Act shall apply to every assessee, being a company, mentioned in the section; whereas, no similar provision is found in section 115J of the Act. Moreover, the Supreme Court in the case of Rolta India Limited (supra) has specifically referred to the decision of the Karnataka High Court in the case of Kwality Biscuits Ltd. (supra) as .....

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