2011 (6) TMI 915

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....E MS.JUSTICE HARSHA DEVANI) 1. In this appeal under section 260-A of the Income Tax Act, 1961 ["the Act"], the appellant-revenue has challenged order dated 23rd August, 2001 made by the Income Tax Appellate Tribunal, Ahmedabad Bench "B" ["the Tribunal"] in I.T.A. No. 4771/Ahd/1995 for the Assessment Year 1990-91. 2. While admitting the appeal, this Court had, by an order dated 25.2.2003 form....

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....ncome Tax v. Rolta India Limited [supra] has held thus: "In our view, Section 115J/115JA are special provisions. Section 207 envisages that tax shall be payable in advance during any financial year on current income in accordance with the scheme provided in Sections 208 to 219 (both inclusive) in respect of the total income of the assessee that would be chargeable to tax for the assessmen....

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....e shall be deemed to be an amount equal to 30% of such book profit. The object is to tax zero-tax companies." "It is clear from reading Sections 115JA and 115JB that the question whether a company which is liable to pay tax under either provision does not assume importance because specific provision(s) is made in the section saying that all other provisions of the Act shall apply to the M....

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....ssment which means the tax determined on the application of Section 115J/115JA in the regular assessment." 5. The Tribunal, in the impugned order has held that no interest under sections 234B and 234C would be chargeable in the assessee's case for the assessment year under consideration since the assessment has been made after taking recourse to the provisions of section 115J of the Act. Th....