https://www.taxtmi.com/caselaws?id=261912 The PUNJAB AND HARYANA HIGH COURT held that interest under Sections 234B and 234C of the Income Tax Act can be charged on income determined based on book profit under Section 115JA. In the case of M/S Swaraj Mazda Limited, the Court ruled against the appellant, affirming the Assessing Officer's adjustments and imposition of additional tax and interest. The Court relied on legal precedents to support its decision, ultimately dismissing all appeals (ITA Nos.406, 515, and 516 of 2005) in favor of the revenue authorities. en-us Mon, 15 Oct 2012 00:00:00 +0530 Sat, 25 Jul 2015 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261912 The PUNJAB AND HARYANA HIGH COURT held that interest under Sections 234B and 234C of the Income Tax Act can be charged on income determined based on book profit under Section 115JA. In the case of M/S Swaraj Mazda Limited, the Court ruled against the appellant, affirming the Assessing Officer's adjustments and imposition of additional tax and interest. The Court relied on legal precedents to support its decision, ultimately dismissing all appeals (ITA Nos.406, 515, and 516 of 2005) in favor of the revenue authorities. Case-Laws Income Tax Mon, 15 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261912