https://www.taxtmi.com/caselaws?id=119790 The case addressed the issue of charging interest under sections 234B and 234C on taxes levied under section 115JA of the Income-tax Act. The ld. CIT(A) held that the Assessing Officer was not justified in imposing interest on book profits computed under section 115JA. However, the Hon'ble Supreme Court ruled in CIT v. Kwality Biscuits Ltd. that interest can be levied under sections 234B and 234C on book profit computed under section 115JA. The decision confirmed the Assessing Officer's action in charging interest, allowing the Department's appeal. en-us Tue, 21 Nov 2006 00:00:00 +0530 Fri, 13 Jul 2012 11:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119790 The case addressed the issue of charging interest under sections 234B and 234C on taxes levied under section 115JA of the Income-tax Act. The ld. CIT(A) held that the Assessing Officer was not justified in imposing interest on book profits computed under section 115JA. However, the Hon'ble Supreme Court ruled in CIT v. Kwality Biscuits Ltd. that interest can be levied under sections 234B and 234C on book profit computed under section 115JA. The decision confirmed the Assessing Officer's action in charging interest, allowing the Department's appeal. Case-Laws Income Tax Tue, 21 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119790