https://www.taxtmi.com/caselaws?id=55606 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) to charge interest under section 215 of the Income-tax Act, 1961 for the assessment year 1977-78. The Tribunal emphasized that interest is applicable if the paid tax amount is less than 75% of the assessed tax, regardless of the reasonableness of the estimate provided by the assessee. Despite the assessee's argument regarding unforeseeable income due to a government subsidy decision, the Tribunal ruled in favor of the tax department, affirming the interest charges imposed by the Income Tax Officer. en-us Tue, 11 Oct 1983 00:00:00 +0530 Mon, 29 Nov 2010 09:49:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55606 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) to charge interest under section 215 of the Income-tax Act, 1961 for the assessment year 1977-78. The Tribunal emphasized that interest is applicable if the paid tax amount is less than 75% of the assessed tax, regardless of the reasonableness of the estimate provided by the assessee. Despite the assessee's argument regarding unforeseeable income due to a government subsidy decision, the Tribunal ruled in favor of the tax department, affirming the interest charges imposed by the Income Tax Officer. Case-Laws Income Tax Tue, 11 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55606