Applicability of Interest U/s. 234 on tax calculated on book profits under Section 115JA

Joint CIT Vs. Rolta India Ltd. (SC)

Can interest under sections 234B and 234C be levied where a company is assessed on the basis of book profits under section 115JB?

On this issue, the Supreme Court observed that there is a specific provision in section 115JB(5) providing that all other provisions of the Income-tax Act, 1961 shall apply to every assessee, being a company, mentioned in that section. Section 115JB is a self-contained

Please become a Premium member. If you are already a Premium member, login here to access the full content.