https://www.taxtmi.com/caselaws?id=201994 The court ruled in favor of the appellant, holding that advance tax payment and interest provisions under sections 234B and 234C were not automatically applicable to deemed income under section 115JA of the Income-tax Act, 1961. The court emphasized the binding nature of the Karnataka High Court's judgment, affirmed by the Supreme Court, and rejected the Tribunal's decision to levy interest. The judgment underscored the significance of consistent legal interpretation and adherence to established precedents in tax matters, directing the Assessing Officer accordingly. en-us Thu, 04 Mar 2010 00:00:00 +0530 Wed, 26 Dec 2012 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201994 The court ruled in favor of the appellant, holding that advance tax payment and interest provisions under sections 234B and 234C were not automatically applicable to deemed income under section 115JA of the Income-tax Act, 1961. The court emphasized the binding nature of the Karnataka High Court's judgment, affirmed by the Supreme Court, and rejected the Tribunal's decision to levy interest. The judgment underscored the significance of consistent legal interpretation and adherence to established precedents in tax matters, directing the Assessing Officer accordingly. Case-Laws Income Tax Thu, 04 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201994