https://www.taxtmi.com/caselaws?id=13891 The High Court dismissed the petition, upholding the Tribunal's decision to quash the levy of interest under section 216 of the Income Tax Act, 1961. The court emphasized that the Assessing Officer must establish deliberate or intentional underestimation of advance tax for such interest to be charged. The judgment reinforces the necessity for a factual finding of underestimation before imposing interest under section 216, especially in cases assessed under section 143(1). en-us Tue, 15 May 2001 00:00:00 +0530 Sat, 04 Jul 2009 17:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13891 The High Court dismissed the petition, upholding the Tribunal's decision to quash the levy of interest under section 216 of the Income Tax Act, 1961. The court emphasized that the Assessing Officer must establish deliberate or intentional underestimation of advance tax for such interest to be charged. The judgment reinforces the necessity for a factual finding of underestimation before imposing interest under section 216, especially in cases assessed under section 143(1). Case-Laws Income Tax Tue, 15 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13891