https://www.taxtmi.com/caselaws?id=260132 The appeal was allowed, and the interest levied under section 234B of the Income Tax Act for the assessment year 1992-93 was deleted. The Tribunal found no default in the payment of advance tax by the appellant, as they had estimated income and paid advance tax in accordance with the law. The decision aligned with the judgment of the Jurisdictional High Court, emphasizing that interest arises only on the failure to pay advance tax as per specified provisions. en-us Thu, 26 Mar 2015 00:00:00 +0530 Wed, 03 Jun 2015 07:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260132 The appeal was allowed, and the interest levied under section 234B of the Income Tax Act for the assessment year 1992-93 was deleted. The Tribunal found no default in the payment of advance tax by the appellant, as they had estimated income and paid advance tax in accordance with the law. The decision aligned with the judgment of the Jurisdictional High Court, emphasizing that interest arises only on the failure to pay advance tax as per specified provisions. Case-Laws Income Tax Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260132