2010 (10) TMI 853

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....ondent   Adarsh Kumar Goel, J   1. This order will dispose of I.T.A. Nos.157 and 158 of 2004, as both the appeals have been filed by the same assessee raising common questions of law. While admitting the appeals vide order dated 27.7.2004, following questions were framed:-   In I.T.A. No.157 of 2004:-   "Whether on the facts and circumstances of the case, in the abs....

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....rned counsel for the assessee states that he does not press question No.2 in I.T.A. No.158 of 2004.   3. Thus, common question in both the appeals which survives for consideration is levy of interest under Sections 234B and 234C of the Act, in absence of any direction in the assessment order.   4. The assessee received incentive bonus from Life Insurance Corporation which was held ....

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....of interest under Sections 234B and 234C of the Act was not permissible. Reliance has been placed on CIT v. Krishan Lal (HUF) [2002] 258 ITR 359 (Delhi), V.N. Dubey v. CIT [2008] 10 DTR 175 (MP) and Uday Mistanna Bhandar and Complex v. CIT and ors. [1996] 222 ITR 44 (Patna).   7. We are unable to accept the submission. It has been held by the Hon'ble Supreme Court in Anjum Ghaswala and oth....