https://www.taxtmi.com/caselaws?id=9618 The court ruled in favor of the Revenue, holding that the assessee was obligated to file a statement of advance tax under section 209A(1). Failure to do so justified the levy of interest under section 217. The court emphasized the absolute obligation to file a statement if the current income exceeded the specified amount and upheld the application of commercial principles to the requirement of paying interest. The Tribunal's decision was deemed erroneous by the court. en-us Fri, 07 Oct 2005 00:00:00 +0530 Sun, 28 Jun 2009 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9618 The court ruled in favor of the Revenue, holding that the assessee was obligated to file a statement of advance tax under section 209A(1). Failure to do so justified the levy of interest under section 217. The court emphasized the absolute obligation to file a statement if the current income exceeded the specified amount and upheld the application of commercial principles to the requirement of paying interest. The Tribunal's decision was deemed erroneous by the court. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9618