https://www.taxtmi.com/caselaws?id=151685 Interest under section 18A(8) of the Indian Income-tax Act, 1922 was treated as part of the machinery for assessment and collection, and not as a charging provision to be read narrowly. The Supreme Court held that the provision clearly created liability to interest where an assessee liable to estimate and pay advance tax failed to submit an estimate or pay any tax. To make the computation workable, the Court read the starting point for interest as the date on which the tax ought to have been paid. On that construction, liability to interest remained enforceable even in cases of total default. en-us Fri, 31 Aug 1962 00:00:00 +0530 Fri, 20 Dec 2024 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151685 Interest under section 18A(8) of the Indian Income-tax Act, 1922 was treated as part of the machinery for assessment and collection, and not as a charging provision to be read narrowly. The Supreme Court held that the provision clearly created liability to interest where an assessee liable to estimate and pay advance tax failed to submit an estimate or pay any tax. To make the computation workable, the Court read the starting point for interest as the date on which the tax ought to have been paid. On that construction, liability to interest remained enforceable even in cases of total default. Case-Laws Income Tax Fri, 31 Aug 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151685