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Monday, January 31, 2011

Levy of Interest u/s 234B & 234C under MAT

Whether Interst u/s 234B & 234C will be levied, when tax liability calculated u/s 115JB i.e.under MAT, is a very controversial issue.

Supreme Court in a recent judgement of  had held that interest u/s 234B/ 234C will be levied when tax paid under MAT.

JCIT vs. Rolta India Ltd.

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