https://www.taxtmi.com/caselaws?id=70844 Interest under section 217 of the Income-tax Act was not justified where the assessee filed the return on the basis of the books of account and did not furnish an advance-tax estimate, but the later enhancement of income from the firm could not reasonably have been foreseen on the material available at the time of filing. On those facts, the levy was unsupported and the assessee succeeded. The stated principle is that interest for failure to pay advance tax is not sustainable when the assessee had no reasonable basis to anticipate the addition that created the liability. en-us Fri, 02 Nov 1979 00:00:00 +0530 Tue, 19 Apr 2011 16:10:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70844 Interest under section 217 of the Income-tax Act was not justified where the assessee filed the return on the basis of the books of account and did not furnish an advance-tax estimate, but the later enhancement of income from the firm could not reasonably have been foreseen on the material available at the time of filing. On those facts, the levy was unsupported and the assessee succeeded. The stated principle is that interest for failure to pay advance tax is not sustainable when the assessee had no reasonable basis to anticipate the addition that created the liability. Case-Laws Income Tax Fri, 02 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70844