https://www.taxtmi.com/caselaws?id=204809 The High Court allowed the appeal, setting aside the Tribunal's order in favor of the assessee. It concluded that the assessee was not required to deposit advance tax due to actual losses, thus not subject to interest under sections 234A, 234B, and 234C. The Court emphasized that imposing income tax on losses contradicts the concept of taxation. en-us Mon, 18 Jan 2010 00:00:00 +0530 Thu, 04 Aug 2011 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204809 The High Court allowed the appeal, setting aside the Tribunal's order in favor of the assessee. It concluded that the assessee was not required to deposit advance tax due to actual losses, thus not subject to interest under sections 234A, 234B, and 234C. The Court emphasized that imposing income tax on losses contradicts the concept of taxation. Case-Laws Income Tax Mon, 18 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204809