VINUBHAI MOHANLAL DOBARIA vs. CHIEF COMMISSIONER OF INCOME TAX

The appeal is disposed of in the aforesaid terms

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

2% per month or part of a month of the tax and interest determined on assessment or reassessment, in relation to return of income that was required to be furnished under section 139(1) or section 142(1) or section 148 or section 153A/153C as the case may be, existing on the date of conveyance of compounding charges

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

263 or section 264, the amount of tax payable under this Act is reduced or increased, as the case may be, the amount of tax credit allowed under this section shall also be increased or reduced accordingly.” 9 5. As per provisions of Section 115JA, a company is liable to pay tax on 30% of book profits, if the income