https://www.taxtmi.com/caselaws?id=10501 The High Court upheld the Tribunal's decision to cancel the interest charged under section 217 of the Income-tax Act. It clarified the obligations related to advance tax statements, emphasizing the need for a tax liability to necessitate filing such statements. The judgment highlighted the requirement of a legal right to interest based on commercial principles, leading to the dismissal of the Revenue's claim for interest due to the absence of a tax entitlement. en-us Wed, 09 Feb 2005 00:00:00 +0530 Thu, 16 Jul 2009 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10501 The High Court upheld the Tribunal's decision to cancel the interest charged under section 217 of the Income-tax Act. It clarified the obligations related to advance tax statements, emphasizing the need for a tax liability to necessitate filing such statements. The judgment highlighted the requirement of a legal right to interest based on commercial principles, leading to the dismissal of the Revenue's claim for interest due to the absence of a tax entitlement. Case-Laws Income Tax Wed, 09 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10501