2017 (2) TMI 1305

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.... consideration : "(i) Whether on the facts and in the circumstances of the case and in law the Tribunal is justified in deleting the addition of Rs. 11,51,24,333 to the income of the assessee-company made by the Assessing Officer on account of guarantee commission chargeable to its associated enterprises ? (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in deleting the interest charged under section 234B of the Act in view of the Supreme Court decision in Joint CIT v. Rolta India Ltd. [2011] 330 ITR 470 (SC) ? (iii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in deleting the addition made by the Assessing Officer....

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....efore not entertained. 4. Regarding question No. (ii) : (a) It is an undisputed position that the issue arising herein was a subject matter of consideration by this court in CIT v. JSW Energy Ltd. [2015] 379 ITR 36 (Bom). In the above decision this court held that there would be no liability to pay interest under section 234B of the Act in view of a retrospective amendment made to section 115JB of the Act. This on the ground that at the time of making the payment of advance tax the respondent was under no obligation to pay advance tax and the same arose only on account of retrospective amendment to the law which came post the conclusion of the previous year relevant to the subject assessment year. The aforesaid decision of this ....