2006 (3) TMI 95 - KARNATAKA HIGH COURT

Demand pertaining to levying of interest under sections 234B and 234C for the alleged default in payment of advance tax – contention of petitioner that liability to pay tax arose only in view of the provisions of the amendment of section 115JB(1) of the Finance Act, 2002 which is made retrospective with effect from April 1, 2001 and as on April 1, 2001, the petitioner was not liable to pay advance tax cannot be accepted and wherefore the retrospective operation of section 115JB(1) with effect from April 1, 2001, cannot at all be said to be unreasonable, excessive or harsh so as to declare it as unconstitutional as sought for in the writ petition – petition is dismissed