https://www.taxtmi.com/caselaws?id=348070 The High Court clarified that interest under sections 234B and 234C of the Income Tax Act should not be charged when total income is assessed under section 115J, contrary to the initial judgment favoring the Revenue. The court highlighted the distinction between sections 115JA and 115JB, emphasizing that interest is payable for failure to pay advance tax under those sections, not under section 115J. Consequently, the court dismissed the appeal, ruling in favor of the assessee and against the Revenue, based on the correct interpretation of the relevant provisions. en-us Mon, 11 Sep 2017 00:00:00 +0530 Thu, 14 Sep 2017 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348070 The High Court clarified that interest under sections 234B and 234C of the Income Tax Act should not be charged when total income is assessed under section 115J, contrary to the initial judgment favoring the Revenue. The court highlighted the distinction between sections 115JA and 115JB, emphasizing that interest is payable for failure to pay advance tax under those sections, not under section 115J. Consequently, the court dismissed the appeal, ruling in favor of the assessee and against the Revenue, based on the correct interpretation of the relevant provisions. Case-Laws Income Tax Mon, 11 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348070