https://www.taxtmi.com/caselaws?id=11413 HC held that interest under sections 234B and 234C is automatically chargeable where there is non-payment or short payment of advance tax, even if tax liability arises solely by operation of section 115J. The provisions are compensatory, not penal, and once total income computed under the Act is less than 30% of book profits resulting in shortfall of advance tax, sections 234B/234C apply without regard to equity or natural justice. Decision affirmed in favour of the Department and against the assessee. en-us Wed, 30 Apr 2003 00:00:00 +0530 Sat, 27 Sep 2025 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11413 HC held that interest under sections 234B and 234C is automatically chargeable where there is non-payment or short payment of advance tax, even if tax liability arises solely by operation of section 115J. The provisions are compensatory, not penal, and once total income computed under the Act is less than 30% of book profits resulting in shortfall of advance tax, sections 234B/234C apply without regard to equity or natural justice. Decision affirmed in favour of the Department and against the assessee. Case-Laws Income Tax Wed, 30 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11413