sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
From the Courts »
 M/s A Daga Royal Arts vs. ITO (ITAT Jaipur)
 Gagan Infraenergy Ltd vs. DCIT (ITAT Delhi)
 PCIT vs. Chawla Interbild Construction Co. Pvt. Ltd (Bombay High Court)
 All India Federation of Tax Practitioners vs. ITO (ITAT Mumbai)
  Suresh M. Jamkhindikar vs. ACIT (Bombay High Court)
  Suresh M. Jamkhindikar vs. ACIT (Bombay High Court)
 Mangammal @ Thulasi vs. T.B. Raju (Supreme Court)
 Mahabir Industries vs. PCIT (Supreme Court)
  Oriental Bank Of Commerce Vs. Additional Commissioner Of Income Tax
  Suresh M. Jamkhindikar vs. ACIT (Bombay High Court)
  Union of India vs. Pirthwi Singh (Supreme Court)

Charging interest for non-payment of advance tax-MAT assessment
December, 05th 2006

Charging interest for non-payment of advance tax-MAT assessment

The Minimum Alternate Tax (MAT) was liable on book profits that could be determined only after the end of the relevant previous year. Therefore, the provisions of s.207 to s.210 of the Income Tax Act 1961 were not applicable in such a case and no interest under s.234B or s.234C was leviable in case of MAT assessments.

Supreme Court 
CIT vs Kwality Biscuits Ltd.
Citation 155 Taxman 658
  195 Taxation 229
  205 CTR 122
  284 ITR 434
 
  Affirmed Kwality Biscuits Ltd. vs CIT
  243 ITR 519
  Not followed by CIT vs Geetha Ramakrishna Mills (P) Ltd.
  205 CTR 365; LexReported

S.115J, s.207, s.209, s.210, s.234B and s.234C of the Income Tax Act 1961 

Supreme Court of India

CIT vs Kwality Biscuits Ltd.

Civil Appeals Nos. 1284 and 1285 of 2001. Appeals by special leave from the judgment and order dated November 30, 1999, of the Karnataka High Court in I. T. R. C. Nos. 51 and 52 of 1996. The judgment of the High Court is reported as Kwality Biscuits Ltd. v. CIT [2000] 243 ITR 519 (Karn).

Ruma Pal and Dalveer Bhandari JJ

26 April 2006

Mohan Parasaran, Additional Solicitor-General of India (Mohit Chaudhary, Ms. Sushma Suri and B. V. Balram Das, Advocates, with him) for the Appellant
Dhruv Mehta, Harsh Vardhan Jha and Yasraj Singh Deora, Advocates, for the Respondent

ORDER

The appeals are dismissed.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions