COMMISSIONER OF INCOME TAX DELHI II vs. LEROY SOMER & CONTROLS INDIA P.LTD.

ITA - 407 / 2008HC Delhi06 February 200944 pages
For Petitioner: MR.R.D.JOLLY
AI SummaryDismissed

What did the High Court hold?

The Tribunal correctly held that rectification under Section 154 was not permissible as the issue of charging interest under Section 234B without setting off MAT credit was debatable. Interest under Sections 234B and 234C is to be charged after the MAT credit is set off against the tax payable.

What were the facts?

The appeals concerned whether interest under Sections 234B and 234C of the Income Tax Act should be calculated before or after setting off MAT credit. The revenue argued that amendments were prospective, and prior to them, interest was calculated before set-off. Assessees contended that MAT credit, being tax paid in advance, should be set off first.

What were the issues?

Whether interest under Sections 234B and 234C is to be computed before or after setting off MAT credit, 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

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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:423-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:423-DB

AND + ITA 969/2007

COMMISSIONER OF INCOME

The order continues below.

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