https://www.taxtmi.com/caselaws?id=36707 The High Court ruled in favor of the assessee, determining that they were not obligated to file an estimate under section 212(3) for the assessment year 1965-66 as they had been previously assessed. The court held that the charge of penal interest was a mistake apparent from the records, allowing for rectification under section 154. The judgment emphasized the significance of prior assessments in determining legal obligations under the Income Tax Act and affirmed the assessee's right to rectify apparent mistakes in interest charges. en-us Tue, 04 Mar 1980 00:00:00 +0530 Wed, 24 Mar 2010 11:02:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36707 The High Court ruled in favor of the assessee, determining that they were not obligated to file an estimate under section 212(3) for the assessment year 1965-66 as they had been previously assessed. The court held that the charge of penal interest was a mistake apparent from the records, allowing for rectification under section 154. The judgment emphasized the significance of prior assessments in determining legal obligations under the Income Tax Act and affirmed the assessee's right to rectify apparent mistakes in interest charges. Case-Laws Income Tax Tue, 04 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36707