JT.C.I.T.,MUMBAI vs M/S.ROLTA INDIA LTD.

The Supreme Court addressed whether interest under Section 234B of the Income Tax Act, 1961 can be charged on tax calculated on book profits under Section 115JA. The Court held that interest under Section 234B cannot be levied on the tax computed under Section 115JA, aligning with the Karnataka High Court's precedent in Kwality Biscuits Ltd. The judgment clarified that the provisions of Section 234B do not apply to the tax calculated on book profits, thus ruling in favor of the assessee.