2009 (1) TMI 174

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....A. K Jasani for the respondent. JUDGMENT 1. The Revenue has come in appeal on the following question: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in upholding the assessee's contention that when the assessee is not liable to pay advance tax, there is no question of charging interest under section 234B of the Act by relying upon the decision i....

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....ucted under section 195 of the Income-tax Act. 4. Our attention also has been invited to the observations of the Full Bench of this court under the Indian Income-tax Act, 1922, in the case of CIT v. Daimler Benz A. G. [1977] 108 ITR 961. One of the issues considered was the consequence of failure to pay advance tax by the assessee. The Full Bench held that the assessee was of the opinion that i....

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....ed at source. A learned Bench of the Uttaranchal High Court, after considering the provisions, held as under (page 328): "Secondly, although section 191 of the Act is not overridden by sections 192, 208 and 209(1)(a)(d) of the Act, the scheme of sections 208 and 209 of the Act indicates that in order to compute advance tax the assessee has to, inter alia, estimate his current income and calcula....

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....gment of the Madras High Court, in the case of CIT v. Madras Fertilisers Ltd. reported in [1984] 149 ITR 703, where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under section 215. In that case, the assessee had not paid advance tax on the interest income. The payer of interest had no....