High Court held that imposition of interest was justified under sections 234B and 234C, save and except on income which arose from retrospective operation of any statute, decision, etc., because in those type of cases, assessee was unable to know and assess his income and pay advance tax.
PCIT v. Haldia Petrochemicals Ltd. (2019) 107 taxmann.com 434 / 265 Taxman 434 (Cal.)(HC) Editorial: SLP is granted the revenue, PCIT v. Haldia Petrochemicals Ltd. (2019) 265 Taxman 160 (SC)
S. 234B : Interest-Advance tax–Levy of interest is held to be justified-Except on income which arose from retrospective operation of any statute, decision, etc., because in those type of cases, assessee was unable to know and assess his income and pay advance tax.[S. 234C]