https://www.taxtmi.com/caselaws?id=256734 The High Court upheld the Tribunal's decision, affirming the mandatory nature of interest under Sections 234A and 234B for default in advance tax payment. The judgment clarified the treatment of income from parking charges, determining it as business income taxable for the relevant assessment year. The appeal challenging the interest charges was dismissed, emphasizing the legal obligation to pay interest in such circumstances, as established by relevant case law. en-us Tue, 10 Feb 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256734 The High Court upheld the Tribunal's decision, affirming the mandatory nature of interest under Sections 234A and 234B for default in advance tax payment. The judgment clarified the treatment of income from parking charges, determining it as business income taxable for the relevant assessment year. The appeal challenging the interest charges was dismissed, emphasizing the legal obligation to pay interest in such circumstances, as established by relevant case law. Case-Laws Income Tax Tue, 10 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256734