https://www.taxtmi.com/caselaws?id=203524 The court ruled in favor of the revenue and against the assessee, upholding the statutory liability of interest under Sections 234B and 234C in cases where income is computed under Section 115JA of the Income Tax Act, 1961. The judgment clarified the conflict between High Courts and emphasized that interest is applicable to all companies falling under Section 115JA, as it is a special provision necessitating the payment of advance tax. The decision highlighted the importance of timely payment of advance tax to avoid interest liabilities under the relevant provisions. en-us Fri, 04 Mar 2011 00:00:00 +0530 Sat, 24 Mar 2012 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203524 The court ruled in favor of the revenue and against the assessee, upholding the statutory liability of interest under Sections 234B and 234C in cases where income is computed under Section 115JA of the Income Tax Act, 1961. The judgment clarified the conflict between High Courts and emphasized that interest is applicable to all companies falling under Section 115JA, as it is a special provision necessitating the payment of advance tax. The decision highlighted the importance of timely payment of advance tax to avoid interest liabilities under the relevant provisions. Case-Laws Income Tax Fri, 04 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203524