COMMISSIONER OF INCOME TAX vs. BIOSEED RESEARCH (INDIA) PVT. LIMITED

ITA - 719 / 2007HC Delhi06 February 200944 pages
For Petitioner: PREM LATA BANSAL
AI SummaryDismissed

What did the High Court hold?

The Tribunal held that interest under Sections 234B and 234C should be charged after the MAT credit is set off against the tax payable. Consequently, rectification under Section 154 was not permissible as the issue was debatable.

What were the facts?

The appeals concerned the calculation of interest under Sections 234B and 234C of the Income Tax Act, specifically whether MAT credit should be set off before or after computing this interest. The revenue argued that amendments to the Act were prospective, and prior to these, interest was calculated before MAT credit set-off.

What were the issues?

Whether MAT credit should be set off before or after computing interest under Sections 234B and 234C, and whether this issue was debatable for the purpose of Section 154 rectification.

Which sections of the Income-tax Act were involved?

Section 154,Section 234B,Section 234C,Section 115JAA

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(20)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

* THE HIGH COURT OF DELHI AT NEW DELHI

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Judgment delivered on 06.02.2009

+ ITA 402/2005

COMMISSIONER OF INCOME TAX … Appellant

- versus –

M/S JINDAL EXPORTS LIMITED

... Respondent

WITH

+ ITA 1474/2006

COMMISSIONER OF INCOME TAX … Appellant

- versus –

M/S NESTLE INDIA LIMITED

... Respondent

AND + ITA 708/2007

COMMISSIONER OF INCOME TAX … Appellant

- versus –

BRIJBASI ART PRESS LIMITED

... Respondent

WITH + ITA 719/2007 2009:DHC:390-DB

- versus –

BIOSEED RESEARCH (INDIA) PVT LTD ... Respondent

AND + ITA 791/2007

COMMISSIONER OF INCOME TAX … Appellant

- versus –

ALLIED STRIPS LIMITED

... Respondent

AND + ITA 829/2007

COMMISSIONER OF INCOME TAX … Appellant

- versus –

CONTINENTAL PACKAGING PVT. LIMITED ... Respondent

AND + ITA 907/2007

THE COMMISSIONER OF INCOME TAX-V … Appellant

- versus –

NIS SPARTA LIMITED

... Respondent

AND + ITA 914/2007

THE COMMISSIONER OF INCOME TAX-V … Appellant

- versus –

2009:DHC:390-DB

AND + ITA 969/2007

COMMISSIONER OF INCOME

The order continues below.

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