https://www.taxtmi.com/caselaws?id=10730 The court allowed the appeals, holding that interest under sections 234B and 234C is mandatory and applicable even when income is computed under section 115JA. The court emphasized the automatic and compensatory nature of the interest provisions, rejecting the Tribunal's findings and aligning with other High Courts and the Supreme Court's views. The court clarified that the levy of interest is not penal but compensatory and mandatory, automatically applying upon default, regardless of hardship or equity considerations. en-us Sat, 25 Sep 2004 00:00:00 +0530 Wed, 22 Jul 2009 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10730 The court allowed the appeals, holding that interest under sections 234B and 234C is mandatory and applicable even when income is computed under section 115JA. The court emphasized the automatic and compensatory nature of the interest provisions, rejecting the Tribunal's findings and aligning with other High Courts and the Supreme Court's views. The court clarified that the levy of interest is not penal but compensatory and mandatory, automatically applying upon default, regardless of hardship or equity considerations. Case-Laws Income Tax Sat, 25 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10730