https://www.taxtmi.com/caselaws?id=189123 The court dismissed the appeal challenging the order on the levy of interest under Section 234B of the Income-tax Act, 1961. The court relied on the precedent set in the KWALITY BUSCUITS LTD. case, emphasizing that the liability for tax payment arises only after the determination of total income and book profits at the end of the assessment year. As the case fell under Section 115J(A) of the Act, the court found no justification for charging interest under Sections 234B and 234C, ultimately dismissing the appeal. en-us Tue, 31 Jan 2006 00:00:00 +0530 Wed, 28 Dec 2016 18:29:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189123 The court dismissed the appeal challenging the order on the levy of interest under Section 234B of the Income-tax Act, 1961. The court relied on the precedent set in the KWALITY BUSCUITS LTD. case, emphasizing that the liability for tax payment arises only after the determination of total income and book profits at the end of the assessment year. As the case fell under Section 115J(A) of the Act, the court found no justification for charging interest under Sections 234B and 234C, ultimately dismissing the appeal. Case-Laws Income Tax Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189123