https://www.taxtmi.com/caselaws?id=65819 The ITAT upheld the CIT(A)'s decision to delete the interest charged under section 216 of the Income Tax Act, emphasizing the necessity of a specific finding on the underestimation of advance tax to levy such interest. The Court stressed the importance of proper reasoning and findings in tax assessments to justify the imposition of interest, ultimately dismissing the Revenue's appeal and affirming the cancellation of the interest charged under section 216. en-us Fri, 29 Jan 1988 00:00:00 +0530 Fri, 18 Feb 2011 18:15:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65819 The ITAT upheld the CIT(A)'s decision to delete the interest charged under section 216 of the Income Tax Act, emphasizing the necessity of a specific finding on the underestimation of advance tax to levy such interest. The Court stressed the importance of proper reasoning and findings in tax assessments to justify the imposition of interest, ultimately dismissing the Revenue's appeal and affirming the cancellation of the interest charged under section 216. Case-Laws Income Tax Fri, 29 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65819