https://www.taxtmi.com/caselaws?id=32209 HC held that provisions of Sections 234B and 234C do not apply where tax liability is determined under Section 115JA (similar to 115J), because book profits - the basis for tax under Chapter XIIB - are ascertainable only after the end of the financial year. Relying on earlier authority and the SC's disposition on related appeals, the Court answered the question against the Revenue and in favor of the assessee, ruling that interest under Sections 234B and 234C cannot be levied in such cases. en-us Mon, 05 Jan 2009 00:00:00 +0530 Sat, 08 Nov 2025 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32209 HC held that provisions of Sections 234B and 234C do not apply where tax liability is determined under Section 115JA (similar to 115J), because book profits - the basis for tax under Chapter XIIB - are ascertainable only after the end of the financial year. Relying on earlier authority and the SC's disposition on related appeals, the Court answered the question against the Revenue and in favor of the assessee, ruling that interest under Sections 234B and 234C cannot be levied in such cases. Case-Laws Income Tax Mon, 05 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32209