https://www.taxtmi.com/caselaws?id=20391 The High Court ruled in favor of the assessee, holding that interest under section 217 of the Income-tax Act was not exigible due to the absence of taxable income. The judgment aligned with precedent and emphasized the significance of the latest completed assessment in determining the obligation to file an advance tax statement. The court's decision was based on the interpretation of relevant provisions of the Income-tax Act, highlighting that no interest liability under section 217 arises when the assessed income is negative. en-us Mon, 03 May 1993 00:00:00 +0530 Fri, 13 Nov 2009 16:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20391 The High Court ruled in favor of the assessee, holding that interest under section 217 of the Income-tax Act was not exigible due to the absence of taxable income. The judgment aligned with precedent and emphasized the significance of the latest completed assessment in determining the obligation to file an advance tax statement. The court's decision was based on the interpretation of relevant provisions of the Income-tax Act, highlighting that no interest liability under section 217 arises when the assessed income is negative. Case-Laws Income Tax Mon, 03 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20391