https://www.taxtmi.com/caselaws?id=18185 The High Court ruled in favor of the assessee, holding that mere underestimation of advance tax does not automatically warrant interest under section 216 of the Income-tax Act, 1961. The court emphasized the necessity of deliberate underestimation with the intent to reduce tax liability for interest imposition under this provision. The decision of the Tribunal, which overturned the interest imposition by the Revenue, was upheld, ultimately ruling against the Revenue in this case. en-us Thu, 20 Jun 1996 00:00:00 +0530 Tue, 29 Sep 2009 13:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18185 The High Court ruled in favor of the assessee, holding that mere underestimation of advance tax does not automatically warrant interest under section 216 of the Income-tax Act, 1961. The court emphasized the necessity of deliberate underestimation with the intent to reduce tax liability for interest imposition under this provision. The decision of the Tribunal, which overturned the interest imposition by the Revenue, was upheld, ultimately ruling against the Revenue in this case. Case-Laws Income Tax Thu, 20 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18185