https://www.taxtmi.com/caselaws?id=26240 The court ruled in favor of the petitioner, quashing the orders imposing interest under section 215 of the Income-tax Act, 1961. The court held that the amount treated as advance tax during assessment should be considered for interest calculation, negating the applicability of section 215 due to the absence of any shortfall in advance tax payment. The court emphasized that interest ceases once the amount is paid and distinguished between penalties for late payments and interest under section 215. The orders imposing interest were set aside without costs awarded. en-us Mon, 10 Dec 1984 00:00:00 +0530 Wed, 03 Feb 2010 16:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26240 The court ruled in favor of the petitioner, quashing the orders imposing interest under section 215 of the Income-tax Act, 1961. The court held that the amount treated as advance tax during assessment should be considered for interest calculation, negating the applicability of section 215 due to the absence of any shortfall in advance tax payment. The court emphasized that interest ceases once the amount is paid and distinguished between penalties for late payments and interest under section 215. The orders imposing interest were set aside without costs awarded. Case-Laws Income Tax Mon, 10 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26240