2003 (4) TMI 30 - BOMBAY HIGH COURT

Whether, Tribunal erred in holding that interest under section 234B and section 234C was not leviable in case income was subjected to tax under section 115J as it stood at the relevant time?" - Merely because the curtain rises in the cases of companies falling under section 115J after March 31, is no ground for the assessee-company not to pay interest under section 234B and section 234C - it was found that the tax liability under section 115J was ₹ 26,45,004 against which the advance-tax paid was, only ₹ 15 lakhs and, consequently, there was short payment of advance-tax Hence, interest under section 234B and section 234C was leviable