https://www.taxtmi.com/caselaws?id=67961 Clarifies that payment of advance tax made after an instalment due date but within the relevant financial year satisfies statutory conditions for interest on excess advance tax; the instalment default penalty regime does not automatically bar interest where the taxpayer pays within the year. Rejects confining the remedy to rectification proceedings as it would confer arbitrary discretion on the assessing officer. Where belated payment occurs shortly after the due date and the taxpayer shows bona fide compliance efforts, interest is payable on the advance tax paid within the financial year. en-us Mon, 15 Dec 1986 00:00:00 +0530 Tue, 15 Mar 2011 18:44:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67961 Clarifies that payment of advance tax made after an instalment due date but within the relevant financial year satisfies statutory conditions for interest on excess advance tax; the instalment default penalty regime does not automatically bar interest where the taxpayer pays within the year. Rejects confining the remedy to rectification proceedings as it would confer arbitrary discretion on the assessing officer. Where belated payment occurs shortly after the due date and the taxpayer shows bona fide compliance efforts, interest is payable on the advance tax paid within the financial year. Case-Laws Income Tax Mon, 15 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67961