https://www.taxtmi.com/caselaws?id=9129 The High Court upheld the imposition of a penalty under section 221 of the Income-tax Act, 1961, for the assessee's failure to pay advance tax. The court determined that advance tax constitutes "tax" for penalty purposes, citing precedents from other High Courts. Emphasizing that advance tax is essentially income tax paid in advance, the court concluded that default in advance tax payment can lead to penalties under section 221. The judgment favored the revenue, affirming the penalty imposition due to the assessee's non-payment of advance tax. en-us Mon, 19 Feb 1973 00:00:00 +0530 Fri, 19 Jun 2009 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9129 The High Court upheld the imposition of a penalty under section 221 of the Income-tax Act, 1961, for the assessee's failure to pay advance tax. The court determined that advance tax constitutes "tax" for penalty purposes, citing precedents from other High Courts. Emphasizing that advance tax is essentially income tax paid in advance, the court concluded that default in advance tax payment can lead to penalties under section 221. The judgment favored the revenue, affirming the penalty imposition due to the assessee's non-payment of advance tax. Case-Laws Income Tax Mon, 19 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9129