https://www.taxtmi.com/caselaws?id=56370 The Tribunal upheld the CIT(A)'s decision to cancel the interest levy of Rs. 15,46,328 imposed under section 216 of the IT Act, 1961, on the assessee-company. The Tribunal found that the assessee's advance tax estimates were based on factual figures and projections, with no evidence of mala fide intention. Emphasizing the absence of mala fide intent and the company's financial resources and qualified personnel, the Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee. en-us Mon, 21 Nov 1988 00:00:00 +0530 Fri, 03 Dec 2010 13:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56370 The Tribunal upheld the CIT(A)'s decision to cancel the interest levy of Rs. 15,46,328 imposed under section 216 of the IT Act, 1961, on the assessee-company. The Tribunal found that the assessee's advance tax estimates were based on factual figures and projections, with no evidence of mala fide intention. Emphasizing the absence of mala fide intent and the company's financial resources and qualified personnel, the Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee. Case-Laws Income Tax Mon, 21 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56370