Interest cannot be charged u/s. 234B on brought forward MAT credit balance -SC

SUPREME COURT OF INDIA Commissioner of Income-tax, New Delhi v. Sage Metals Ltd. CIVIL APPEAL NOS. 6405 OF 2012 & OTHERS SEPTEMBER 11, 2012 ORDER 1. Heard learned counsel on both sides in all the cases. 2. Delay condoned. 3. Leave granted. 4. A common question of law arises for determination in this batch of civil appeals. 5. In civil appeal arising out of S.L.P. (C) No.24046 of 2009 filed by the Department [first case in this batch], the Assessment Year in question is 2001-2002. A short question which arises for determination in this appeal is, whether the Department is e...