Tuesday, February 15, 2011

SC JUDGMENT ON APPLICABILITY OF INTEREST U/S, 234B/234C ON TAX PAYABLE U/S.15JA/115JB

The Supreme Court delivered judgement in favour of the revenue department on the issue which
arose, namely, interest under Section 234B and section 234C can be charged on the tax calculated
on book profits under Section 115JA. In other words, advance tax was payable on book profits
under Section 115JA.

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