https://www.taxtmi.com/caselaws?id=55374 Where an estimate of advance tax and the related payment were made before 1 April of the following financial year, interest under section 217 of the Income-tax Act could not be levied on the Gujarat High Court precedent applied by the ITAT. The Tribunal held that the Commissioner was not justified in revising the assessment under section 263 to direct charging of such interest, because the binding High Court decision governed the issue and had to be followed. The revisionary order was therefore set aside in favour of the assessee. en-us Wed, 14 May 1980 00:00:00 +0530 Fri, 26 Nov 2010 16:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55374 Where an estimate of advance tax and the related payment were made before 1 April of the following financial year, interest under section 217 of the Income-tax Act could not be levied on the Gujarat High Court precedent applied by the ITAT. The Tribunal held that the Commissioner was not justified in revising the assessment under section 263 to direct charging of such interest, because the binding High Court decision governed the issue and had to be followed. The revisionary order was therefore set aside in favour of the assessee. Case-Laws Income Tax Wed, 14 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55374