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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


The appeals are dismissed.

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