Shanti Prime Publication Pvt. Ltd.
Sec 41(1) of the Income-tax Act, 1961— Remission or cessation of trading liability – Since there was no deliberate or intentional failure to pay advance tax on the book profit by the assessee, ITAT was justified in affirming the view taken by the first appellate authority that the charge of interest under sections 234B and 234C on the book profit was not justified. - PR. CIT V/s MANGALORE REFINERY & PETROCHEMICALS LTD. -  426 ITR 266 (BOM)