https://www.taxtmi.com/caselaws?id=360704 The Court held that interest under Sections 234B and 234C is not chargeable when income is assessed under Section 115J of the Income Tax Act. The decision in Geetha Ramakrishna Mills Pvt. Ltd. was deemed incorrect, with the Court affirming the Supreme Court's ruling in Rolta India Ltd. and the Karnataka High Court's decision in Kwality Biscuits Ltd. The Tax Case Appeal was allowed in favor of the appellant/assessee, with no costs awarded against the Revenue. en-us Mon, 09 Apr 2018 00:00:00 +0530 Mon, 21 May 2018 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360704 The Court held that interest under Sections 234B and 234C is not chargeable when income is assessed under Section 115J of the Income Tax Act. The decision in Geetha Ramakrishna Mills Pvt. Ltd. was deemed incorrect, with the Court affirming the Supreme Court's ruling in Rolta India Ltd. and the Karnataka High Court's decision in Kwality Biscuits Ltd. The Tax Case Appeal was allowed in favor of the appellant/assessee, with no costs awarded against the Revenue. Case-Laws Income Tax Mon, 09 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360704