https://www.taxtmi.com/caselaws?id=16055 HC held that where section 115J deems a company's total income to be 30% of book profit, the assessee must pay advance tax under the scheme of sections 207-219 and section 215(5) governs assessed tax; any default attracts interest. The Court ruled the legal fiction in section 115J must be given full effect, making levy of interest on deferred or unpaid advance tax inescapable, and rejected any attempt to avoid or partially apply the statutory advance-tax obligation created for companies with deemed income under section 115J. en-us Fri, 23 Jul 1999 00:00:00 +0530 Thu, 09 Oct 2025 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16055 HC held that where section 115J deems a company's total income to be 30% of book profit, the assessee must pay advance tax under the scheme of sections 207-219 and section 215(5) governs assessed tax; any default attracts interest. The Court ruled the legal fiction in section 115J must be given full effect, making levy of interest on deferred or unpaid advance tax inescapable, and rejected any attempt to avoid or partially apply the statutory advance-tax obligation created for companies with deemed income under section 115J. Case-Laws Income Tax Fri, 23 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16055