https://www.taxtmi.com/caselaws?id=25914 The court held that as no advance tax was payable, the petitioners were not required to submit the statement u/s 209A(1)(a), thus not liable for interest u/s 217(1)(a) or penalty u/s 273. The respondents were ordered to refund the interest amount of Rs. 50,722 deducted from the petitioners. The petition was allowed, and the respondents were directed to pay the specified amount to the petitioners along with the costs. en-us Thu, 12 Dec 1985 00:00:00 +0530 Mon, 01 Feb 2010 16:16:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25914 The court held that as no advance tax was payable, the petitioners were not required to submit the statement u/s 209A(1)(a), thus not liable for interest u/s 217(1)(a) or penalty u/s 273. The respondents were ordered to refund the interest amount of Rs. 50,722 deducted from the petitioners. The petition was allowed, and the respondents were directed to pay the specified amount to the petitioners along with the costs. Case-Laws Income Tax Thu, 12 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25914