https://www.taxtmi.com/caselaws?id=11699 The court ruled in favor of the Revenue and against the assessee, holding that interest under sections 234A and 234B of the Income-tax Act, 1961 is applicable even when the income is determined by applying section 115J. The court emphasized that companies must estimate their profits during the financial year and pay advance tax accordingly, irrespective of the application of section 115J. Interest under sections 234A and 234B is imposed for delays in filing the return or for defaults in advance tax payment, regardless of the specific provisions applied during income determination. en-us Mon, 25 Nov 2002 00:00:00 +0530 Sat, 06 Feb 2010 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11699 The court ruled in favor of the Revenue and against the assessee, holding that interest under sections 234A and 234B of the Income-tax Act, 1961 is applicable even when the income is determined by applying section 115J. The court emphasized that companies must estimate their profits during the financial year and pay advance tax accordingly, irrespective of the application of section 115J. Interest under sections 234A and 234B is imposed for delays in filing the return or for defaults in advance tax payment, regardless of the specific provisions applied during income determination. Case-Laws Income Tax Mon, 25 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11699