https://www.taxtmi.com/caselaws?id=17516 The High Court of Andhra Pradesh ruled in favor of the assessee in a case concerning the underestimation of advance tax and the application of section 216 of the Income-tax Act, 1961. The court held that interest under section 216 is triggered by the underestimation of advance tax, regardless of the cause. The assessee's estimation was deemed justified, considering the circumstances at the time of the first instalment payment. The court disagreed with conflicting opinions from different High Courts and rejected the Revenue's appeal for certification to the Supreme Court, finding no conflict in judicial interpretations. en-us Fri, 13 Dec 1996 00:00:00 +0530 Wed, 23 Sep 2009 10:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17516 The High Court of Andhra Pradesh ruled in favor of the assessee in a case concerning the underestimation of advance tax and the application of section 216 of the Income-tax Act, 1961. The court held that interest under section 216 is triggered by the underestimation of advance tax, regardless of the cause. The assessee's estimation was deemed justified, considering the circumstances at the time of the first instalment payment. The court disagreed with conflicting opinions from different High Courts and rejected the Revenue's appeal for certification to the Supreme Court, finding no conflict in judicial interpretations. Case-Laws Income Tax Fri, 13 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17516