https://www.taxtmi.com/caselaws?id=8548 The court held that penalty under Section 221(1) of the Income-tax Act can be imposed for default in advance tax payment, considering advance tax as 'tax' for penalty purposes. The default in advance tax payment was deemed a continuing default beyond the financial year until settled. The court ruled in favor of the tax authorities, directing the assessee to bear the costs of the references to the Commissioner. en-us Wed, 08 Sep 1971 00:00:00 +0530 Thu, 30 Apr 2009 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8548 The court held that penalty under Section 221(1) of the Income-tax Act can be imposed for default in advance tax payment, considering advance tax as 'tax' for penalty purposes. The default in advance tax payment was deemed a continuing default beyond the financial year until settled. The court ruled in favor of the tax authorities, directing the assessee to bear the costs of the references to the Commissioner. Case-Laws Income Tax Wed, 08 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8548