https://www.taxtmi.com/caselaws?id=59260 The Tribunal dismissed both appeals, ruling that the penalty under section 273(a) of the IT Act, 1961 for late payment of advance tax was unjustified as the Income Tax Officer failed to prove the estimate was false or the late payment intentional. Additionally, the Tribunal held that interest under section 139(8) should consider the full advance tax paid by the assessee, emphasizing substance over strict adherence to due dates. The appeals were dismissed, highlighting the significance of substance over form in advance tax payments and penalties under the IT Act, 1961. en-us Sat, 08 Aug 1981 00:00:00 +0530 Mon, 27 Dec 2010 15:18:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59260 The Tribunal dismissed both appeals, ruling that the penalty under section 273(a) of the IT Act, 1961 for late payment of advance tax was unjustified as the Income Tax Officer failed to prove the estimate was false or the late payment intentional. Additionally, the Tribunal held that interest under section 139(8) should consider the full advance tax paid by the assessee, emphasizing substance over strict adherence to due dates. The appeals were dismissed, highlighting the significance of substance over form in advance tax payments and penalties under the IT Act, 1961. Case-Laws Income Tax Sat, 08 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59260