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TMI Blog2018 (10) TMI 1357X X X X Extracts X X X X X X X X Extracts X X X X ..... and 234C of the Act. Interest under Sections 234B and 234C shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB. For the aforestated reasons, Circular No. 13/2001 dated 9.11.2001 issued by CBDT has no application. - Decided against assessee. - Tax Case Appeal No.12 of 2009 - - - Dated:- 8-10-2018 - Mr. Justice T. S. Sivagnanam And Mrs. Justice V. Bhavani Subbaroyan For the Appellant : Mr.T.Vasudevan For the Respondent : Ms.K.G.Usharani JUDGMENT T.S.SIVAGNANAM J. We have heard the learned counsel on either side. 2. The Revenue preferred this appeal challenging the order passed by the Income Tax Appellate Tribunal dated 29.4.2008 in ITA.No.92/Mds/2005 for the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the assessee by the Hon'ble Supreme Court in the case of JCIT Vs. Rolta India Limited [reported in (2011) 330 ITR 0470]. 7. The operative portion of the decision in Rolta India Limited reads as follows : 9. The question which remains to be considered is whether the assessee, which is a MAT Company, was not in a position to estimate its profits of the current year prior to the end of the financial year on 31st March. In this connection the assessee placed reliance on the judgment of the Karnataka High Court in the case of Kwality Biscuits Ltd. v. CIT reported in (2000) 243 ITR 519 and, according to the Karnataka High Court, the profit as computed under the Income Tax Act, 1961 had to be prepared and thereafter the b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that none of the assessees challenged the decisions of the Gauhati High Court, Madhya Pradesh High Court as well as Bombay High Court in the Supreme Court. However, it may be noted that the judgment of the Karnataka High Court in Kwality Biscuits Ltd. was confined to Section 115J of the Act. The Order of the Supreme Court dismissing the Special Leave Petition in limine filed by the Department against Kwality Biscuits Ltd. is reported in (2006) 284 ITR 434. Thus, the judgment of Karnataka High Court in Kwality Biscuits stood affirmed. However, the Karnataka High Court has thereafter in the case of Jindal Thermal Power Company Ltd. v. Dy. CIT reported in (2006) 154 TAXMAN 547 distinguished its own decision in case of Kwality Biscuits Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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