https://www.taxtmi.com/caselaws?id=213419 The Tribunal upheld the Revenue's appeal, ruling in favor of levying interest under Section 234C on tax determined on book profits under Section 115JB. The CIT(A)'s decision to delete the interest charged under Section 234C was overturned, emphasizing the mandatory nature of interest levy under the Income-tax Act. The Tribunal highlighted the applicability of Section 115JB(5) and relevant judicial precedents, concluding that no debatable issue existed to warrant rectification under Section 154. en-us Fri, 09 Dec 2011 00:00:00 +0530 Mon, 21 May 2012 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213419 The Tribunal upheld the Revenue's appeal, ruling in favor of levying interest under Section 234C on tax determined on book profits under Section 115JB. The CIT(A)'s decision to delete the interest charged under Section 234C was overturned, emphasizing the mandatory nature of interest levy under the Income-tax Act. The Tribunal highlighted the applicability of Section 115JB(5) and relevant judicial precedents, concluding that no debatable issue existed to warrant rectification under Section 154. Case-Laws Income Tax Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213419