https://www.taxtmi.com/caselaws?id=23967 HC held that no interest under section 215 was payable on the advance-tax sum paid in March 1972, since interest runs from April 1 following the financial year and the amount was discharged before that date; interest remains payable on the unpaid balance. The HC further held the ITO lacked jurisdiction to proceed with reassessment once the grounds in the reassessment notice were found incorrect or non-existent, and affirmed the Tribunal's cancellation of the reassessment, answering the referred question in favour of the assessee. en-us Mon, 24 Apr 1989 00:00:00 +0530 Tue, 28 Oct 2025 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23967 HC held that no interest under section 215 was payable on the advance-tax sum paid in March 1972, since interest runs from April 1 following the financial year and the amount was discharged before that date; interest remains payable on the unpaid balance. The HC further held the ITO lacked jurisdiction to proceed with reassessment once the grounds in the reassessment notice were found incorrect or non-existent, and affirmed the Tribunal's cancellation of the reassessment, answering the referred question in favour of the assessee. Case-Laws Income Tax Mon, 24 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23967