https://www.taxtmi.com/caselaws?id=14588 The High Court of Kerala upheld the constitutional validity of section 115J of the Income-tax Act, 1961, introduced by the Finance Act, 1987. The court found that the provision aimed to tax "prosperous zero tax companies" and limit deductions to ensure minimum tax payment, rather than tax hypothetical income. Additionally, the court rejected the petitioners' claims regarding the levy of additional tax and interest, emphasizing that the tax payable was not paid on time, leading to the dismissal of their claims. en-us Mon, 17 Jul 2000 00:00:00 +0530 Fri, 17 Jul 2009 13:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14588 The High Court of Kerala upheld the constitutional validity of section 115J of the Income-tax Act, 1961, introduced by the Finance Act, 1987. The court found that the provision aimed to tax "prosperous zero tax companies" and limit deductions to ensure minimum tax payment, rather than tax hypothetical income. Additionally, the court rejected the petitioners' claims regarding the levy of additional tax and interest, emphasizing that the tax payable was not paid on time, leading to the dismissal of their claims. Case-Laws Income Tax Mon, 17 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14588