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SC Judgment on applicability of Interest U/s, 234B/234C on tax payable u/s. 115JA/115JB
Case Law Details
- Case Name
- Jt. C. I. T. Vs M/s Rolta India Ltd. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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The Supreme Court last week settled different views expressed by the Bombay and Karnataka high courts and allowed the appeals of the Commissioner of Income Tax, ruling that interest under Sections 234B and 234C of the Income Tax Act shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB. In two appeals by the commissioner, against rulings in favour of Rolta India Ltd and Export Credit Guarantee Corporation, the Supreme Court delivered judgement in favour of the revenue department on the issue which arose, namely, interest under Secti...
