https://www.taxtmi.com/caselaws?id=169104 The Tribunal allowed the appeals of the assessee, deleting the interest under sections 234B and 234C. It held that the assessee had a genuine belief that no advance tax was payable on minimum alternate tax under section 115JB, based on the prevailing legal position at the time. The Tribunal emphasized that the subsequent decision imposing such tax retrospectively could not apply to the assessee. Therefore, the interest levied was deemed unjustified, and the assessee's position was supported by established legal principles. en-us Fri, 24 Jan 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169104 The Tribunal allowed the appeals of the assessee, deleting the interest under sections 234B and 234C. It held that the assessee had a genuine belief that no advance tax was payable on minimum alternate tax under section 115JB, based on the prevailing legal position at the time. The Tribunal emphasized that the subsequent decision imposing such tax retrospectively could not apply to the assessee. Therefore, the interest levied was deemed unjustified, and the assessee's position was supported by established legal principles. Case-Laws Income Tax Fri, 24 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169104