2009 (4) TMI 415

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.... the court was delivered by 1. K. Raviraja Pandian J.-The appeal has been preferred by the Revenue against the order of the Income-tax Appellate Tribunal, Madras "D" Bench, Chennai, dated February 17, 2006 passed in I. T. A. No. 554/ Mds/2004. 2. The material facts culled out from the statement of facts in the memorandum of grounds of appeal are as follows : 3. The assessee is a company. ....

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....re the Income-tax Appellate Tribunal and the Tribunal following its judgment in the case of Chemplast Sanmar Limited upheld the order of the Commissioner of Income-tax (Appeals) and dismissed the appeal. Aggrieved by the same, the Revenue filed this appeal by formulating the following question of law : "Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right ....

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.... Court cited supra. The Delhi High Court has considered the relevant provisions and dealt with the matter in detail and held that the credit under section 115JAA should be given effect to before charging of interest under sections 234A, 234B and 234C of the Act. We are in agreement with the reasoning given by the Delhi High Court. The learned counsel appearing for the Revenue has not produced any ....