https://www.taxtmi.com/caselaws?id=21680 The High Court of Karnataka ruled in favor of the assessee, M/s. Mysore Minerals Ltd., in a case concerning the levy of interest under section 216 of the Income-tax Act, 1961. The Court held that the Income-tax Officer's decision to impose interest was unfounded as the assessee had complied with all relevant provisions and there was no evidence of underestimation. The Court emphasized the importance of proper compliance and invalidated the interest levy, ultimately deciding against the Revenue's challenge. en-us Wed, 26 Jun 1991 00:00:00 +0530 Thu, 26 Nov 2009 16:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21680 The High Court of Karnataka ruled in favor of the assessee, M/s. Mysore Minerals Ltd., in a case concerning the levy of interest under section 216 of the Income-tax Act, 1961. The Court held that the Income-tax Officer's decision to impose interest was unfounded as the assessee had complied with all relevant provisions and there was no evidence of underestimation. The Court emphasized the importance of proper compliance and invalidated the interest levy, ultimately deciding against the Revenue's challenge. Case-Laws Income Tax Wed, 26 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21680