Itxa/1964/2011 Of Commissioner Of Income Tax, Central-Ii v. M/S. Supreme Petrochem Ltd

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1964 OF 2011 Commissioner of Income Tax, Central-II, Mumbai ..Appellant. V/s. M/s. Supreme Petrochem Ltd. ..Respondent. Mr. Vimal Gupta, Senior Advocate with Padma Divakar for the appellant. Mr. B.D. Damodar i/b. Kanga & Co. for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 4TH MARCH, 2013 P.C. :- 1.In this appeal by the revenue for the assessment year 2006-07, following questions of law has been raised for our consideration:- (i)Whether on the facts and in the circumstances of the case, the Tribunal was right in law, in holding that interest u/s.234B is not chargeable for non payment of advance tax in respect of income computed u/s.115-JB of the I.T. Act, 1961 ?Tribunal was right in law, in holding that interest u/s.234B is not chargeable for non payment of advance tax in respect of income computed u/s.115-JB of the I.T. Act, 1961 ? (ii)Whether on the facts and in the circumstances of the case, the interpretation taken by the Tribunal while making the deletion is in conformity with law and the decision of the Supreme Court in the case of JCIT V/s. Rolta India Ltd. (SC) Civil Appeal No.153/2011 ?interpretation taken by the Tribunal while making the deletion is in conformity with law and the decision of the Supreme Court in the case of JCIT V/s. Rolta India Ltd. (SC) Civil Appeal No.153/2011 ? 2.The appeal is admitted on the above questions. 3.By consent of the parties, the appeal is taken up for final hearing. 4.Counsel for the parties state that the issue now stands concluded in favour of the revenue and against the respondent-assessee by the decision of the Apex Court in the matter of JCIT V/s. Rolta India Ltd. reported in [2011] 330 ITR 470 (SC). In view of the above, issues arising in this appeal are answered in favour of the revenue and against the accused. 5.The appeal is accordingly disposed of in the above terms with no order as to costs. (M.S. SANKLECHA, J.) (J.P. DEVADHAR, J.)