https://www.taxtmi.com/caselaws?id=57151 The tribunal overturned the CIT's decision confirming the charging of interest under section 216 of the IT Act, 1961. It ruled that the assessing officer did not specify the basis for charging interest and failed to prove that the advance tax estimate was understated. Consequently, the tribunal vacated the CIT's decision and allowed the appellant's appeal. en-us Tue, 19 May 1981 00:00:00 +0530 Wed, 08 Dec 2010 16:18:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57151 The tribunal overturned the CIT's decision confirming the charging of interest under section 216 of the IT Act, 1961. It ruled that the assessing officer did not specify the basis for charging interest and failed to prove that the advance tax estimate was understated. Consequently, the tribunal vacated the CIT's decision and allowed the appellant's appeal. Case-Laws Income Tax Tue, 19 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57151