https://www.taxtmi.com/caselaws?id=255869 The High Court upheld the Tribunal's decision to levy interest on a Company under Section 115JB of the Income Tax Act for non-payment of advance tax, citing the Supreme Court's interpretation that all assesses are obligated to pay advance tax. The Court dismissed the appeal, emphasizing the obligation of all assesses, including Section 115JB Companies, to pay advance tax and corresponding interest under Sections 234B and 234C as per the Supreme Court's interpretation. Additionally, the Court reiterated the limited scope for raising additional grounds in appeals, especially when such grounds could have been raised earlier in the appeal process. en-us Wed, 10 Dec 2014 00:00:00 +0530 Fri, 05 Aug 2022 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255869 The High Court upheld the Tribunal's decision to levy interest on a Company under Section 115JB of the Income Tax Act for non-payment of advance tax, citing the Supreme Court's interpretation that all assesses are obligated to pay advance tax. The Court dismissed the appeal, emphasizing the obligation of all assesses, including Section 115JB Companies, to pay advance tax and corresponding interest under Sections 234B and 234C as per the Supreme Court's interpretation. Additionally, the Court reiterated the limited scope for raising additional grounds in appeals, especially when such grounds could have been raised earlier in the appeal process. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255869